[isatrader]

Hi Isa, do you think Apha is a buy now?

Thanks,
Ian

I can't give you direct buy or sell advice, as not qualified or licensed for that. But I can tell where it is in terms of the method, which is potentially at the very earliest point of a Stage 2A or still rallying within Stage 1, as it hasn't yet cleared resistance. So personally, I would be looking for it to consolidate under the recent highs and above the 50 day MA on lighter volume to show that the selling pressure is gone and that it's ready for a potential move higher. As that would then give you a lower risk entry point if it then broke out. Look for a volatility contraction (VCP) near the highs.

Also, what sector is it in? How is that doing? How are its competitor stocks doing? is this the best stock in the group etc?

Always think about risk first. i.e. where should you put your stop loss if you bought now? Where's the support levels if it pulls back etc? Is it greater than -10%? If so you've missed the initial move, and should wait for the next consolidation or base. As you should always define your risk first.