Credit Spread for APPFStrong base has formed, worth considering a credit spread below support area for a stock in a secular uptrend.
APPF trade ideas
APPF - Sweet SHORT Swing TradeHere we see a really nice set up for a Short swing trade.
On the weekly chart the price is over extended and has broken the upward trend line with a declining MACD histogram. In addition, the price has come to point where AB=CD and due for reversal/correction .
On the Daily chart we see a Head and Shoulder reversal pattern with a Bearish Engulfing candle 'testing' resistance after price it has broken downward through the upward trend line . In addition, we see a MACD histogram bearish divergence with strong downward momentum.
Entry trigger just below the latest ( bearish ) candle with stop loss above it. Two take profit targets at 38.2% and 50% Fibonacci retracement respectively. A nice swing trade with a 1:2 risk/reward ratio
$APPF looking good for the upsideNice reversal today. It looks good to make a move to the upside following the downtrend and consolidation. Earnings are in about 3 weeks. Does it run up before that?
APPF bottomRecent IPO in fast growing sectory. A bottom looks to be forming @ $40. Trendline break and now has horizontal support. 200 day MA catching up should add support at 40. 50 day MA has been resistance and the stock is wedging between 50 and 200 day MA's, while being in a tight range of 40-42.50. Other stocks in sector are still strong, see RP.
APPF breaking out of triangle, ready to go to new highsNice breakout from the triangle shown. Should reach the old high and likely surpass it.
