Ticker APHA on the Nasdaq, prices are in US $
Why not APHA on the TSX? Nasdaq Volume higher which means price action is more meaningful.
Also, APHA on the TSX will be closed on Monday!
My comments about today action Profit taking didn't come as a surprise for me, any investor that entered on September 24th and
sold today October 9th is looking at 30-40% profits. 40% would be for someone that entered
perfectly at Low of September 24th day and sold perfectly at October 9th High of the day.
We are still sitting at an RSI Higher than 70 on the Daily TimeFrame which means we are
overbought but personally when the momentum is here I don't pay attention to the RSI.
Gap up open days are good for selling like October 6th, we set a Daily Higher Low and we set
a Daily Higher High on the same candle. Continuation immediatly the next days
(we can say this now that we have Data up to today). I have a feeling that on Monday the
same scenario will happen, the hammer candle today on the Daily TimeFrame is a good
indicator, bulls bought the dip and baited potential new bears that entered on today's dip.
Charts Breakdown Daily and Hourly Timeframes
I will now insert a Graph for the more visual. Excuse all my lines.
Before you click, all the red lines are support and all the green lines are resistances.
First Red line = Low before the stock bounces.Subsequent red lines = Higher Low
Firs Green line = High after initial bounce. Subsequent green lines = Higher High
1 Candle = Price action of 1 day, link below
https://www.tradingview.com/x/xwpo3QQE/
If you are curious about the clues you should look for on Monday to know if we are heading
for continuation, you have to zoom in on the Hourly TimeFrame.
1 Candle = Price action of 1 hour, link below
https://www.tradingview.com/x/jdNrd2IX/
My next post will be my earnings prediction (hahaha I don't know how many times I said that)
Giving the people what they want, seeing positive reaction to my chart posts so why stop?
Disclaimer
This post is for educational purposes, I'm not a professional trader and I'm not a
chart fortune teller. Please take decisions to buy and sell that are based on your due diligence
or financial advisor (if you have one)
Educational Advice
My Educational advice is when it comes to playing earnings, which means being a shareholder
when they release earnings. It's important to have a plan because keep in mind that like I said
earlier, whoeverbought the stock since September 24th is already looking at 30-40% profits.In
the event the earnings are bad, the stock will open lower which means you willgive back
profits depending of how bad they are. I'm bullish on the stock but you have toprepare for all the possible outcomes.
Educational example, pretend you have 100 000 shares
Secure profit on a % of that position. Selling 10% or 25% or whatever you want
to secure profits is not a bad idea, worst case scenario , you continue to win money on the
remaining 75 to 90% of your position if the reaction to earnings is good.
If the reaction to earnings is negative, you have the 10% to 25% you secured to buy more
shares of a company you believe in and at a discounted price.
As a result you increase your share count.
Thank you for readiing my post and have nice week-end