Timonrosso

Aspen short looks like a Risky Biscuit - Here's why

Short
JSE:APN   ASPEN PHARMACARE HLDGS LTD
This one is tricky and I'd consider a medium to low probability trade.

Aspen has just had a few days worth of bearish candles. Strong selling has clearly taken place.

During the time, it's formed an M Formation.

The price has broken below the neckline however there are danger signs that it might not work out.

1. 7>21 - Bullish.
2. Price >200 and needs to combat and break down
3. Smart Money Concepts - There is a fair value gap with an inefficiency of buying and selling.

So the price is likely to go up at least 50% of the gap before choosing.

4. The JSE is in a jovial and positive mood right now...

So you can see there are conflicting signals and if I had to get in, I would only risk 0.5% in this trade.
RSI<50
Target R134.84
RISKY BISCUIT!

✅ Facebook:
www.facebook.com/groups/matitrader

🌐Website:
www.timonandmati.com

💰FREE Discord:
discord.gg/c8f37kyv35

Twitter:
twitter.com/timonr

Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.