Post by
N00bInvesT0R on Aug 09, 2020 7:06pm
Weekly Uptrend
If you want to accept like me that you can't hold 100% of the amount of $ you willing to invest in Aphria and want to swing a % of your $ , need to play the charts.
If you don't secure some profits on the way up, you end up giving it back. If you look at the daily time frame, June 29th, we "bottomed" at 5.42 and topped out before earnings at 8.21 on July 28th. Yes the cannabis sector rallies fast and dumps fast. It took 20 trading day to top out at 8.21 and now after 7 trading days, we are almost back to 5.42 (9.49% away from 5.42). I prefer to secure my profits before the dump and enter late when it rallies since anyways I'm always invested in Aphria with my strategy but not with 100% of my buy power.
Just sharing these details because It allowed me to increase my buy power.
Key level to hold this week is anything above 5.42$ Cad to keep the weekly uptrend.
Weed results tomorrow morning will let us know quickly how this upcoming week will look like. Cannabis sector rough to invest if you don't want to look at it, unless your average is at the covid low (2.65$ Cad).
Comment by
N00bInvesT0R on Aug 10, 2020 3:30pm
Added at 6.10, assuming 5.99 is the weekly higher low compared to 5.42 because of Weed positive earnings reaction. Stop loss at 5.99, profit target 6.54
Comment by
N00bInvesT0R on Aug 11, 2020 3:55pm
Got stopped out, never saw that many big red candles on the daily timeframe in a row (9) what a bloodbath... Back to watching 5.42 to keep the weekly uptrend. We will have that answer tommorow if bears don't quit. TLRY earnings surely didn't help zzz Another day to forget...