There was a bottom At $9.68 or whatever---a double bottom...
The question is: Do we have a bottom in the pullback/consolidation?
ApHA closed near the low of the week. On Monday, APHA has to move above Friday's high of $10.05 to indicate a bullish reversal.
After topping out at $11.40 or so, we have seen a two week decline---lower low and lower high, as indicated by the weekly candlestick chart...
So, by doing a time frame analysis and using a candlestick chart, we know that APHA is still in an uptrend on the monthly chart....
In other words, we have a
1. Daily downtrend, with a potential of a bullish reversal.
2. Weekly chart is in a downtrend.
3. Monthly chart is still in an uptrend...
What to do????
The analysts tell us that APHA is a strong buy...
We know that earnings are next month----somewhere between Jan 12 and 18----and so there will likely be a share price runup to at least $11.40---the highest price in more than 12 months.
In the meantime, stockholders must ride the pullback----and wait for the daily reversal, which could happen if APHA moves above Friday's high.
Another question to consider: Will we see a bounce? ( Spike in price, and then the stock drops below the support)
Or will APHA move back up and test the high of last week , around $11?
There is no Holy Grail to stock trading...
In my opinion, APHA might bounce tomorrow, then drop below last week's low of $9,64 /.69....
A safe entry is to buy when we are back in an uptrend of the four hour or daily time frame....