Pre-Market
Ticker: APN
The R240-250 range was rejected once again, in a similar manner to that seen in September 2021.
This level was previously support (which was followed by a multi-year breakdown) and has since become a resistance level.
The weekly candle structure remains poor which means that there is a risk of the multi-year incline being breached.
For short to medium term traders, the R160 level is a significant provisional re-accumulation level of interest.
APN Monthly Chart
Previous Post (05 September)
Pre-Market
Ticker: APN
Within the span of 19 months, the share has provided clients of Unum Capital with two opportunities to profit.
These opportunities came on both the long (buy) and short (sell) side, benefiting from a rising and falling share price.
The short leg provided short term traders with 3x opportunities to sell above 23500c.
Although the share briefly test the stop-loss level (a spike), the share pullback was in line with the view.
The updated chart, with the time-stamped ideas, is shown below.
Lester Davids
Analyst: Unum Capital
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