APN on the doorstep of a huge rally

by Michael Gable

At the end of August, APN showed the classic signs of an exhaustive low, followed by good volume accumulation at these lower levels. My suspicions of “something going on” have almost been confirmed with a 25% jump in the share price earlier this month on very high volume. Since then the stock has pulled back on low volume to sit on top of the September high, almost back to where it was when it exploded 25%. With the company having nothing to say about the share price jump, it is not unusual to see the stock slowly edge back. However, when there is smoke there is fire. This price action is probably only the beginning here and APN can trade much higher. If it is going to rally again, it will do so from current levels. Prices closer to 50c are a possibility. Traders should place a tight stop which gives a very favourable risk/reward.


Disclaimer: Michael Gable is an Authorised Representative (No. 376892) and Fairmont Equities is a Corporate Authorised Representative (No. 444397) of Novus Capital Limited (AFS Licence No. 238168). The information contained in this report is general information only and is copy write to Fairmont Equities. Fairmont Equities reserves all intellectual property rights. This report should not be interpreted as one that provides personal financial or investment advice. Any examples presented are for illustration purposes only. Past performance is not a reliable indicator of future performance. No person, persons or organisation should invest monies or take action on the reliance of the material contained in this report, but instead should satisfy themselves independently (whether by expert advice or others) of the appropriateness of any such action. Fairmont Equities, it directors and/or officers accept no responsibility for the accuracy, completeness or timeliness of the information contained in the report.

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