Aphria appears to be in the final stages of a symmetrical triangle. A breakout is close to fruition. Although I am a optimistic in the long term, I am leaning to a breakdown here. The 50 MA (orange line) is hovering over the current price action, causing some resistance (reason #1). The Rsi, although low on the scale, seems to be turning lower which will indicate further selling pressure (reason #2). If you pay attention to the habits of the rsi in Aphria, you will realize that for the majority of the time, between every large oscillation, there is a smaller one formed in between (smaller one is forming and is currently pointing down). I am inclined to believe that the price action in the following days will be lower.
ความคิดเห็น:
Aphria is sitting on the 38.2 % fib level. If this level does not hold, look for a retracement to around the $7.5 level. If it manages to reach $7.5 , this would be a good level to enter a long position.
ความคิดเห็น:
Earning tomorrow ! No TA around earnings. Let's hope for a surprise, seeing some positive movement from aphria. There international expansion is unique and solid. Best of luck