Stock price continues to drop After topping out at $5.28
This sock dropped again to support on the daily candlesticks at $4.57
The downtrend continues on the daily chart---
a lower high and lower low.
The question is: Will we see a change in trend on the hourly time frame??? A bullish reversal, move back to next resistence at $4.83...
Or will APHA continue to drop to the next support???
approximately $4.44
It's difficult to justify a "Buy and Hold" strategy given the uncertainty of the impact of COVID of demand for pot, and the economy.
There is also a disconnect between the economic reality---high unemployment and expected lower GDP in both Canada. S&P500 trading way to high...
And, when the S & P 500 pulls back again---expect another dump in pot stocks...
If you had taken profits at resistence
which is currently $4.57 you could have bought back in .71 cents lower...
Learn charts and technical anslysis---be able to buy and sell with the trend.