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
As of the time of writing, APHA is printing a badass weekly candle with a huge price surge accompanied
The daily shows the breakout and how it’s pushing to break above the 200 MA and the
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.
$AAPL – Going for a quick swing short
With the sharp pull back and the big run in January, I’m going for a swing...