A bullish engulfing candle pattern formed on JSE:APN friday at a support level. This could mean an upswing is imminent. The stochastic has also recently made an upswing.
We may derive the following from the Daily APN chart:
1. Price has tested the daily resistance a few times.
2. We will need to wait and see what price does - a close above should push the price higher and fill the gap.
3. Monitor price action and be patient.
4. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
The 20 week moving average (wma) has been been a tough nut to crack for Aspen since its rapid decline started back in September 2018. The 20 wma currently sits @ 93.89. If aspen can gain some traction above the 20 wma, see a close above R90.00 on the weekly (above the previous floor), one could see the stock gain some further traction with a first target at the...
Aspen looking to break through resistance level (previous support). It has also broken above the 50 day MA. Several upside targets could be reached. Share price finding support from results released yesterday evening
Aspen has had a good bounce off its lows, but currently testing minor horizontal resistance. To really get bullish however, Aspen must break larger downtrend.
JSE:APN has recently tested a spike low that it formed in March this year. It first it seemed like it had broken through, but it has since bounced and seems to be on its way up. Stochastic is confirming. If it breaks above yesterday's high, I will consider a long on Monday.
