Long
APHA Day Trade Idea
APHA (Aphria, Inc.) is rebounding up from a support line on the year to date rising fibonacci channel.
It is probable that APHA will continue it's upward momentum up to 17.81 for an approximate 13% gain (+/-) upon where it would encounter the yearly 61.8% fibonacci resistance level.
If APHA crosses above 17.81, the Point of control (POC) where volume is most concentrated is at 18.75.
Crossing this level is less probable but not impossible, as APHA has been known to out perform both in market hours and after hours.
I currently have no position in APHA, so this is just my unbiased opinion.
It is probable that APHA will continue it's upward momentum up to 17.81 for an approximate 13% gain (+/-) upon where it would encounter the yearly 61.8% fibonacci resistance level.
If APHA crosses above 17.81, the Point of control (POC) where volume is most concentrated is at 18.75.
Crossing this level is less probable but not impossible, as APHA has been known to out perform both in market hours and after hours.
I currently have no position in APHA, so this is just my unbiased opinion.
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