Underline8

I have been sitting tight on a very large $APHA position as I added a lot of shares when the stock took a huge hit from the short report. Not going to lie, there were a lot of moments where I was sweating profusely. The fog is still very heavy around the company since nothing was really ever said from the company’s management team and they still have not announced a CEO.

But ignoring the fundamentals and looking at the chart technicals, can’t help but get a bit excited that the stock price is finally moving in the same direction as the rest of the high flying marijuana stocks

$APHA – Weekly Chart

As of the time of writing, APHA is printing a badass weekly candle with a huge price surge accompanied with a bullish MACD crossover. RSI is still in the midrange and there is a lot of air between the current price and the downtrend line formed by the previous APHA bull runs.

$APHA – Daily

The daily shows the breakout and how it’s pushing to break above the 200 MA and the ichimoku cloud simultaneously. Momentum is strong but a large part of it is probably the shorts covering. I was originally going to take some shares off at the 200 MA, but greed is setting in.

The move has been fast, its now outside of the 2 stddev bollingers, and should technically be in a high resistance area. If APHA closes into it’s high, I will probably sit and wait until Monday to assess whether I’ll take some off on a potential gap up. Weakness into the close though, I’ll probably shave some off and be very content with locking in gains and protecting my initial investment.


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