N00bInvesTOR Charts Ticker APHA on the NASDAQ because volume is higher than TSX
Key Supports
- 4.55 October 27th, Today Low of the Day
- 4.51 October 26th Low of the Day
- 4.42 October 20th Low of the Day
Key Resistances - 4.74 October 27th, Today High of the Day
- 4.80 October 21st, High of the Day
- 4.91 October 16th, High of the Day
- 5.38 October 15th, High of the day (Q1 2021 earnings date)
Link below to chart where 1 Candle = Price Action of 1 day
https://www.tradingview.com/x/92koIW2p/
Bullish Scenario
4.42 October 20th Low of the Day is the bottom to APHA negative reaction to earnings.
Bulls want to see the bounce continue and break 4.91 minimum, ideally 5.38 before starting
consolidatio to negate the possibilities of a Daily Bear Flag. The bulls will then be more
confident that's it's possible to establish a Daily Higher Low compared to 4.42 to then
attempt a Daily Trend Change by breaking where it started to consolidate (4.91 or 5.38)
Is it also important to see increase in bull volume for the bounce for more confidence.
Bearish Scenario
4.42 October 20th Low of the Day is not the bottom of the negative reaction to support.
They want to see bulls push the price as far as 4.80 without closing above or equal 4.80.
They would also be happy if that happens on low Bull Volume. The temporary bounce that
started at 4.42 would then be a good opportunities for Bears to start entering short (4.80).
That small bounce would allow the Relative Strength Index level to cool off and set up the next
legdown for the Daily Bear Flag Scenario.
Disclaimer
This post is for educational purposes, I'm not an Aphria Shareholder.
Take the decision to Buy or Sell APHA because you conducted your own thorough
due diligence.