Aquarius AQP


Food for thought, any-one have thoughts on this stock.
for or against of course.
I hold this one, only my opinion
Good luck


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The stock has been in a broad trading range for a while recently hit a bottom and bounced up.

The mining sector has been in an uptrend formed a "flag" like consolidation and is breaking out.

Both look overbought for the time being.

AQP has had an interesting price action over the last few weeks. Bottom, gap up, NR7 or consolidation and gap up with good price movement to where we are today.

I don't know how long you have held or what your entry level was but expect a retracement and set some stops and watch carefully. There should be resistance until it can break through to an all time high.
It's forming a longterm "rounded top". Only easy to see long after the event, but it does have all the characteristics.It's been in a down channel since December, BUT has just broken through resistance.This may well be a false breakout, having regard to the last 3 days' vloume.A true breakout will require volume to sustain it.Check past volume from mid Aug to begining of Sept for example...You will also find peak volume at peak prices ( 3 days ago- 20th).
If you are in, you must watch carefully.Support should be at 298/302.
AQP bounced from the 38% retracement level of last years uptrend, so I'm hoping the bounce is the next stage of the long term trend