This morning’s trading in APHA – Aphria Inc
APHA started up today and then reversed. Look at the chart in my prior post. The price hit the upper Bollinger Band today. Many traders buy when the price hits or goes below the Lower Bollinger Band and then they sell (Mean Reversion) when the price hits the middle of the two bands or when then price hits the Upper Bollinger Band. Since I’m not Day Trading this, it’s not an issue. I figure then support is at $7.35 (Friday’s close)and then we’ll have a bounce back up.
Oh yea, a shout out goes to the Stocktwits.com website. One of the good folks from that site linked to my post and we’ve had a number of visitors. Thank You “exHawaiian” for mentioning my post.
Click on this link to visit the StockTwits.com website to view their discussion about APHA.
Click on this link to visit Nasdaq.com to view their real time chart of the trading of APHA so far today. I note that as the stock price retraced back down the volume went down. at 10:21AM it hit it’s low of $7.40 and bounced up. At 10:36AM is came back to retested the low at $7.40. at 10:39AM is touched $7.36. There’s a old saying: “Gaps get filled”. At 10:46AM the opening gap got filled as the stock price of APHA hit $7.35. At 10:51 it touched $7.27. The middle of the Bollinger bands is around $6.97-$6.98. The Shorts this morning could hold out to that level since support was broken at $7.35. But then again this is a Swing Trade and not a Day Trade for me. The only way for me to see if the “After Work” Swing Trading ideas work is to test them and not switch into Day Trading mode.
Disclaimer: This post is not meant as Investment Advice, nor is it advice to buy or sell any shares in any company.. Do your own Due Diligence. Seek out the advice of your own financial and investment advisors before risking any funds in the Stock or Futures Markets. You can lose money and even all of it when investing at the Stock Market Casinos. This post is for my own educational purposes.
Posted by: Vincent Banial