In week 24 we have closed our long position (see linked idea), Aspen is hitting channel resistance & 100% extension of the fib. Once price sets a swing high, we can be certain that trend reversal has started therefore a short position can be opened.
Aspen is consolidating in a symmetrical triangle, it has good support in the triangle and the median line of Pitchfork. On the weekly perspective we are in time for a half cycle correction hence I expect the price to resolve upwards.
The stop-loss is R185.41
Symmetrical Triangle was a a text book trade. The previous trend was up. Price broke above the apex 3/4s in and the momentum continued up.
We had further indicators of confirmation for upside to come.
Price>20
Price>200
Target 1 R206.03
So what now? Well we can expect somewhat a consolidation, and a potential Cup and Handle to form. Then we have the next target...
Aspen Pharmacare Holdings Limited (APN), a leading pharmaceutical company, operates globally, distributing its products across 150 countries. The company's diversified product range targets various acute and chronic medical conditions, with a focus on thrombosis, anaesthetics, cytotoxics, and nutritionals. Aspen's extensive manufacturing footprint includes 25...
See link below for previous analysis.
Aspen reached the target price of 20400 cps and momentum still looks strong.
I will look for dips above 18286 for new long entries
Aspen has reversed pretty much all of the down move after its earnings release in August this year.
Does it manage to breakout here or do we see it reset some of this move? The first sign of weakness will be a close below R185.
No position.
Aspen confirmed a weekly after finding support at the 200 week moving average, now price is seeking a half cycle high. On the RSI we can see it reaching an overbought level with TSI stretched to the upside, we can expect a pullback from here while price seeks to cool off the indicators before seeking to breakout from the purple Pitchfork resistance. It is also...
Aspen is now in week 24 of a weekly cycle, this is a favourite spot to reach a top, we ended the week with a swing high confirmation. The next task is moving down and closing below the upslopping trendline. The red arrow shows the likely path the share is going to follow on the way down. The 200 week moving average will be a good place to look for a weekly low and...
I do not have a high conviction long-term wave count for Aspen.
A quick glance at the chart shows a potential double bottom at the 16100 region.
The stock looks to have caught a bid with volume increasing from the October 26 low.
The double bottom will be confirmed by a break above 18286 but aggressive traders can buy dips below the neckline.
The double bottom...
A price action above 16800 supports a bullish trend direction.
Further bullish confirmation for a break above 17600.
The target price is set at 18200, its 38.2%) Fibonacci retracement level.
The stop-loss is set at 16600.
Testing also its 200-day simple moving average.
The declining channel pattern's upper range is also being tested.
Remains a risky trade.
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...
Aspen (APN) is a pharmaceutical company which trades in 150 countries in a wide range of specialty and branded products aimed at a range of acute and chronic medical conditions. They have 25 manufacturing facilities on 15 sites. Their main product categories are thrombosis, anaesthetics, cytotoxics and nutritionals. Pharmaceuticals generally are a defensive...
The chart of Harmony shows down slopping resistance with support of the broadening wedge & 200DMA aligned. Bulls will buy the support while bears wait to sell the resistance. One of the groups will be right & spur a rush of profit for the other. Since we expect price to be at a half cycle correction, we look for whether price will go lower than 10 July 2023 price,...
Our previous idea indicated a flag break which consequently failed but the chart has now developed into an inverted head and shoulders pattern which targets R204 zone initially.
Ideally the bulls want to hold onto the up trending 20ema on any pullbacks.
The inverted head and shoulders is a bullish indicator in the stock market. It is similar to the standard...
MTN has broken out of a cup and handle formation. Although stochastic is overbought i think it still has some ways to go. MACD has crossed over and momentum is bullish.
Our 3 momentum indicators, the stochastic, MACD and 3&15 EMA's are all signaling a short on $JSE:APN.
We are looking at a target around the 160 price level.
