N00bInvesTOR Charts + APHA Market Share Ticker APHA on the Nasdaq because volume is higher than TSX. Thefore, price action more meaningful
Comments before diving in
US MJ tickers or Canadian MJ tickers that have legitimate exposure have a higher interest on the short term. I say that because they are having a nice week so far. Perhaps traders are betting or hyping a Biden win
- TCNNF
- CGC(WEED)
- CURLF
- CRLBF
- GTBIF
I made an interesting post about Aphria Market share that got burried. Feel free to share your opinion, the post is an open question, not a statement. Interesting in my opinion, check it out
https://stockhouse.com/companies/bullboard?symbol=t.apha&postid=31759084
APHA charts
If you care about Technical Analysis, the question on your mind is :
What are the signs that I can look for to assume APHA found a bottom after the negative reaction to earnings?
- On the short term, if you're aggressive, you want to see an Hourly Trend Change to make sure that the bounce has something to offer.
What is a trend change? For a bull it's a Higher Low (HL) + Higher High (HH)
This often signals that Daily bounce is the most likely scenario
- On the medium term, a significant bounce when the consolidation stops, ideally a bounce that represents a 38,2% retracement of the earnings drop before consolidating to scout a Daily Higher Low. That's Fibonnaci Retracement tool, will put it in my chart
- On the Long Term, you want that the Daily Higher Low to have as much distance as possible from the bottom to increase chances of a Daily TrendChange
- You assume that the Daily Higher Low is set once the Hourly Trend changes again to signal that consolidation is over
Description and text will be inside the charts
Daily Chart : https://www.tradingview.com/x/7R22I7DO/
Hourly Chart : https://www.tradingview.com/x/f92eRh0z/
So basically, if we can break 4.75 and 4.80 resistance tomorrow, we can be more confident to assume that 4.42 is the bottom of the negative reaction to earnings.
Why the 38,2% retracement fib, 5.19 minimum? Because any bounce that is lower favors a Daily Bear Flag scenario for the bears which would indicate more pain ahead. Any bounce higher than 5.19 favors the bulls and negates the Daily Bear Flag scenario.
Hopefully I didn't confuse everyone.
Disclaimer
I am not an APHA shareholder. This post is for educational purposes only. Take the decision to buy or sell because you conducted your own thorough due diligence.
Thank you