Falling Wedge has formed on Aspen.
The price has broken out and looks like it's set to rally.
A conservative trader could wait for a retest, or an impulse trader could trigger it now.
7>21>200 -Bullish
RSI >50
Target - R194.76
SMC: Sell Side LIquidity
Smart Money buys into positions (and sweeps liquidity) from traders who are long (get stopped) and for...
Aspen has carved a bullish flag now attempting a breakout, once it has succeeded we expect it to move to challenge the R203.82 resistance upon where we can expect another bull flag type of formation before moving higher.
The price of 22 May is now our cycle support, if price breaks below this at any point one must exit the trade as trend will become bearish. This...
Aspen has shown strength against a resistance. The share appears to be in an accumulation phase before moving higher. What we will be watching out for:
1. Price to find a bottom with RSI nearing oversold
2. Price to form a swing low on the daily time frame which is an entry confirmation
3. Price to go above 10 MA on a weekly time frame
Stop-loss: Anytime price...
The stock is in an uptrend and consolidating into a bullish flat top triangle pattern after a powerful run up .
SL = R172.50 - R175 (Daily Close)
TP1 = R195 , TP2 =R205
A breakdown of the setup would likely target R160
JSE:APN has been threatening a reversal for over a month with the crossing downwards of the MACD, followed by the stochastic about 10 days ago. Now the 3 and 15 EMA's have finally crossed downwards triggering a short signal. If the trade gets taken, we will aim for a target around the 154 level.
Scanned a couple of stocks on the JSE and it was tough to find many decent setups although Aspen is one that stood out for me on the LONG side.
3 reasons I think this setup is constructive and likely goes higher to at least R200
(1) Weekly price action has been making consecutive higher lows since bottoming out in August 2019. (showing relative strength in...
JSE:APN is now above a key MA on the daily timeframe. But, there's that potential overhead resistance. On the watchlist for now. Patience is key, right?
The stochastic, MACD and 3 & 15 EMA's are all signaling a long position. With the price action just after opening this morning, the trade was triggered long and we are in the trade. Looking for a target at around the R176 level.
The JSE being in an ambiguous phase of cycles, Aspen can be a good proposition to balance out the long positions. The short position is informed on the following:
1. Price went lower than 29 August (pink arrow)
2. The upper trendline is acting as a resistance now confirmed with 3 touches
A swing high confirmation is a good entry point with expectation to close...
JSE:APN is showing downward momentum and could be ready for a short position. The stochastic, MACD and EMA's have all crossed downwards.
We are looking at a target for this trade at around the 119 support area.
ASPEN is potentially forming a Double Bottom pattern in a bullish momentum.
Waiting for confirmation with a break above the neckline and confirmed support above 159.
Potential target area of 188.
Resistance at the Neckline could see it continue the previous down trend.
JSE:APN has been consolidating since June, the stock is now at an area of value, at a potential resistance level. Waiting to see if it can break above, it'll be interesting above R165/share.
Aspen Pharmacare APN 15052c - Ultra Short Term 'Trading' View.
Possibility of a minor retracement to it's 8 21 range, say ~14530c to 14640c.
1. Failing to hold it's prior session highs (exhaustive candle structure)
2. Trading close to 2x std dev, over 21 days
3. Retreating from declining overhead resistance.
4. 7-day RSI was at 85, now rolling over.
Aspen has pulled back rather dramatically from its highs and has found some support around the R130 level. Will be interesting to see if a potential double bottom has formed, or if it will break down lower. My stop would be on a close below R120.
JSE:APN mini rally following a positive trading statement quickly fizzled. Aspen JSE:APN reporters that EPS will be between 32% - 37%. Audited results are coming this week, the numbers are expected to remain the same. The share is trading below key levels, the stock will need great numbers to push the price up, a promising setup is the price trading above...
A price action above 14600 supports a bullish trend direction.
Crossing below this level will negate the positive stance.
Further trend support above 15100.
Consolidation between 14900 and 15500. Crossing above 15500 might target 16400.
Crossing below 14900 might be the first sign of weakness.
