Post by
Ghostinthedark on May 04, 2021 10:36am
Looking at the candlestick charts
On the weekly time frame, there is a major support/floor, potential reversal at $15.50.
It is my guess---given the expected poor earnings by VFF and other pot companies because of COVID, earnings might be even lower for APHA at the end of this quarter.
Essentially, we have another shite show.
APHA will likely drop below $15.50 in the next few weeks.
And if APHA releases earnings in at the end of July that are lower than this past quarter, you will see another dump in price.
I can essily see APHA trading at $12 or lower until the plague ends.
Zacks still rates APHA a hold. Average price target 12 months out as indicated by Yahoo Finance is only $19...
At this time, I am holding a small position, and will not purchase any more stock until news of earnings at the end of July.
keep in mind that daytraders, institions, shorters are running all pot stocks up and down.
Another case in point: Last week, Hexo's share price popped from $7... to $8.4.... on bullish news---but nothing changed on earnings. Today, the stock dropped back to $7.61.....
WTF!!!
It's a total game.
Comment by
Shazam57 on May 04, 2021 10:43am
Well done, your last post said 16.50 and it touched that today. 15.50 will be in my mind for a while.
Comment by
Paray99 on May 04, 2021 10:55am
Yes, it is a game for sure. The big day traders and shorts need this stock above $15 to have large spreads to play it up and down scraping big profits! This is where I like the Robinhood investors....