Technical Chart PerspectiveAPH chart from what I can see is attempting to establish a new base (from the Nov 16 spike) at a higher level than the $1 to $1.50 base it traded at for an extended period from spring to summer 2016. I see an inverted head and shoulders bottoming pattern forming. Left shoulder: Nov24(hi)-Dec13(hi), head: Dec14(hi)-Jan10(hi), right shoulder: Jan 11(hi) and currently forming with this correction.
If I were to guess then a bottom range for this current shoulder could be in the $5-$5.15 level. Extreme low of $4.80-$4.85 on a spike low day such as Nov 23 or Dec 20 cannot be ruled out and if it does occurr would still not invalidate the inverted HnS pattern. Technical resistance is the neckline at $5.75 which eventually needs to be breached if there is to be another upleg
I anticipate there will be a sector wide run up on MJ stocks leading up to the government budget.