APHA Day-Trade / Swing-Trade Idea
APHA is a potential day/swing trade idea.
Technical Analysis:
A (bullish) inverse head & shoulders pattern is nearing confirmation.
Crossing above the previous high (Pivot) of 17.58 is a key indicator for this.
Bollinger bands on the 20-day SMA indicate that APHA is currently oversold and trending upwards towards the central mean (Red Line).
Potential price movement shown (up to 19.09) is based on the delta from the the neckline to the head of the H&S pattern. However if momentum develops from FOMO or other news, that causes the price to cross above the central Bollinger mean (Red Line), the next pivot could be 20.97.
Other catalysts that are moving investors towards APHA are:
1.) the upcoming finalization of the merger between TLRY (Tilray) and APHA (Aphria).
2.) investors positioning themselves for TLRY's (Tilray's) upcoming earnings report.
3.) Newyork State Governor (Andrew Cuomo) news of upcoming legalization of Cannabis.
4.) The prospects of future mergers and acquisitions (M&A) or other market expansion within the United States as the House and Senate move towards legalizing Cannabis at the federal (National) level this year.
Just my opinion, not advice.
Technical Analysis:
A (bullish) inverse head & shoulders pattern is nearing confirmation.
Crossing above the previous high (Pivot) of 17.58 is a key indicator for this.
Bollinger bands on the 20-day SMA indicate that APHA is currently oversold and trending upwards towards the central mean (Red Line).
Potential price movement shown (up to 19.09) is based on the delta from the the neckline to the head of the H&S pattern. However if momentum develops from FOMO or other news, that causes the price to cross above the central Bollinger mean (Red Line), the next pivot could be 20.97.
Other catalysts that are moving investors towards APHA are:
1.) the upcoming finalization of the merger between TLRY (Tilray) and APHA (Aphria).
2.) investors positioning themselves for TLRY's (Tilray's) upcoming earnings report.
3.) Newyork State Governor (Andrew Cuomo) news of upcoming legalization of Cannabis.
4.) The prospects of future mergers and acquisitions (M&A) or other market expansion within the United States as the House and Senate move towards legalizing Cannabis at the federal (National) level this year.
Just my opinion, not advice.
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