For traders who held onto APN, it's been a great medium term trade. Our initial long at R147.14 on 14 April and then follow up long at R163.58 on 28 May.
Recently (16/08) I mentioned using the highs of 18692c to reduce some (40% of position).
Today, at 22000c, it may be prudent to use these highs to continue reducing (potentially another 40% of the medium term...
We give a quick recap of markets overnight and the previous day and insights into the day ahead with a few trade ideas on the day. Ideas are strictly NOT INVESTMENT ADVICE.
We give a quick recap of markets overnight and the previous day and insights into the day ahead with a few trade ideas on the day. Ideas are strictly NOT INVESTMENT ADVICE.
Price action of keeps breaking to new highs. There have been quite a few opportunities to buy in previous weeks but fortunately for buyers there is triangle setup forming for yet another long opportunity. Remember bull-markets don't last forever. LT Limit @26500 will be adding to this trade at 20400. Always remember to manage your risk.
For clients who held onto APN, it's been a steady medium term long. Initially at R147.14 on 14 April and then follow up long at R163.58 on 28 May.
At these highs of 18692c, I think medium term traders could trim (say 40% of position) or raise raise stop losses if you think more gains are at hand.
Anyway, I'm a fan of using sunny days to sell...or reduce in this...
Rounded bottom technical structure on the weekly chart which can target up to 265; but I'm calling it 240/250.
*Year end results expected on on 1 September.
"History does not always repeat but it often rhymes"
One can notice the common thread in the price action... long bias while the trendline is intact
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
APN been trading in a range for a while now. I will be looking for weakness to R160 - R157 area to buy and then sell around R167 level.
Trade ideas are my own and not financial advice.
APN trading in a small range between R160 and R167. My preference to buy weakness to support around R160 - R161 and then sell into resistance around R167. A break higher we can see possible targets of R170 and R175.
Trade ideas are my own and not financial advice.
A few weeks back in my research report I mentioned the healthcare sector as having lagged and that are setting up well, emerging from multi-month bases.
In the past few weeks we also highlighted setups in NTC (daily) and MEI (updated the Monthly view).
So far this morning the price action for the sector has been quite strong hence I'm reiterating APN as it...
Watch-list: Aspen Pharmacare is trading within an upward channel and has been in a 1-month consolidation near multi-month highs. Here, there are two key levels that I am focused on: (1) the overhead supply at 16715c, which could be seen as part of a rectangle (line 1_2) and (2) the ultra short term downward trend line that connects the most recent peak of 18-May...
So if you missed the initial entry using the IHS pattern earlier in this trade, here is an opportunity to initiate a position from the breakout of this ascending triangle . The weekly EMA200 is directly overhead so one could wait for price to close firmly above the WEMA200 before taking a long. The 16600 level seems to be prior resistance looming overhead. Always...
