AFTERPAY - NEW ATH or 50% RETRACE?
Updated
AFTERPAY (ASX:APT) New ATH or in need of a retrace (A sign of darker times ahead though IMO)
3 Scenarios to play out in the next week.
1: Now that we have popped back into long term uptrend and with the amount of people using the service due to Covid-19 (with no end in site) $50 mark looking very achievable.
-Current Support holding
-Bouncing off long term Uptrend Trendline
-Covid-19 still taking its toll on the world
-Fib Extension 1.272 within Rising Wedge
-New ATH territory
-Volume still present in the market
2: After a 440% run wheres the retrace?? Is now the time? (Short Term Retrace)
-440% run without a retrace
-Covid-19 Restrictions 'Softening'
-MACD Death Cross inbound
-RSI Overbought Territory
-Fib Retrace .236 within reach
-Parabolic Uptrend will crack
-Healthy market run needs good market structure
3: A larger retrace is required
- Punch through the Fib .236 and head for the .382 & Strong Equilibrium
-Fill GAP between .236 - .382
-MACD Cross and Spread
-Crack RSI uptrend
-New Market Structure will form LL, LH
-Parabolic trend will break
A Revolutionary Company that was founded 5 Years ago. with over 40,000 Merchants Worldwide and 7 million users and GROWING, Afterpay has smashed the market post Covid-19 dump with a full retrace as their platform has capitalised on the state of the Global Economy during this time (Someone had to) with over $250 Million in Revenue (JUNE 2019) in excited to see what the End of Financial Year brings for APT.
These Ideas are NOT 'Financial Advice'!. Scenarios are based off a mixture of TA and Fundamentals current at the time. All IMO GLTAH. Happy Hunting!!!
3 Scenarios to play out in the next week.
1: Now that we have popped back into long term uptrend and with the amount of people using the service due to Covid-19 (with no end in site) $50 mark looking very achievable.
-Current Support holding
-Bouncing off long term Uptrend Trendline
-Covid-19 still taking its toll on the world
-Fib Extension 1.272 within Rising Wedge
-New ATH territory
-Volume still present in the market
2: After a 440% run wheres the retrace?? Is now the time? (Short Term Retrace)
-440% run without a retrace
-Covid-19 Restrictions 'Softening'
-MACD Death Cross inbound
-RSI Overbought Territory
-Fib Retrace .236 within reach
-Parabolic Uptrend will crack
-Healthy market run needs good market structure
3: A larger retrace is required
- Punch through the Fib .236 and head for the .382 & Strong Equilibrium
-Fill GAP between .236 - .382
-MACD Cross and Spread
-Crack RSI uptrend
-New Market Structure will form LL, LH
-Parabolic trend will break
A Revolutionary Company that was founded 5 Years ago. with over 40,000 Merchants Worldwide and 7 million users and GROWING, Afterpay has smashed the market post Covid-19 dump with a full retrace as their platform has capitalised on the state of the Global Economy during this time (Someone had to) with over $250 Million in Revenue (JUNE 2019) in excited to see what the End of Financial Year brings for APT.
These Ideas are NOT 'Financial Advice'!. Scenarios are based off a mixture of TA and Fundamentals current at the time. All IMO GLTAH. Happy Hunting!!!
Note
Still cracking ATH Price, and IMO will continue to do so.
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