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Aphria Inc. (APHA.TO) – HEFFX Top Pick Jumps 13.97% Overnight

Aphria Inc. (APHA.TO) – HEFFX Top Pick Jumps 13.97% Overnight

HEFFX Shayne Heffernan yesterday made a case for investors to choose Aphria Inc. (APHA:TO) and successfully increased 13.97% during Toronto trading.

Aphria Inc. is our top pick for June. It’s a worldwide consumer packaged goods and wellness company focused on cannabis.

The company has posted stellar earnings up to now in 2020, and i believe it will still do so within the near future. The Canadian cannabis industry is due for a correction after the fallout of financing issues and COVID-19.

Last earnings, Aphria announced a 54% growth of cannabis sales quarter-over-quarter while other similar corporations are posting flat or decreased growth. i would also consider the current share price of Aphria to be undervalued based on future cashflows.

Aphria Inc. is a leading global cannabis company driven by an unrelenting commitment to our people, the planet, product quality and innovation. Headquartered in Leamington, Ontario – the greenhouse capital of Canada – Aphria Inc. has been setting the standard for the low-cost production of high-quality cannabis at scale, grown in the most natural conditions possible.

Focusing on untapped opportunities and backed by the latest technologies, Aphria Inc. is committed to bringing breakthrough innovation to the global cannabis market.

The Company’s portfolio of brands is grounded in expertly-researched consumer insights designed to meet the needs of every consumer segment. Rooted in our founders’ multi-generational expertise in commercial agriculture, Aphria Inc. drives sustainable long-term shareholder value through a diversified approach to innovation, strategic partnerships and global expansion.

Shayne Heffernan Trade Idea

“We predict the future price of Aphria will come in around $8.20 which will give the stock a price increase of +38.33%.

Price Performance

Relative Valuation

Technical Indicators

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 5.29.

The projected upper bound is: 7.42.

The projected lower bound is: 6.04.

The projected closing price is: 6.73.

Candlesticks

A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are “low,” it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
During the past 10 bars, there have been 4 white candles and 5 black candles for a net of 1 black candles. During the past 50 bars, there have been 19 white candles and 30 black candles for a net of 11 black candles.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 69.9531. This is not an overbought or oversold reading. The last signal was a sell 7 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 73.09. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 55 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 168.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 6 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 12 period(s) ago.

Rex Takasugi – TD Profile

APHRIA INC closed up 0.820 at 6.690. Volume was 87% above average (neutral) and Bollinger Bands were 40% wider than normal.

Open    High     Low     Close     Volume
6.010 6.720 5.900 6.690 6,797,765
Technical Outlook
Short Term:        Overbought
Intermediate Term: Bullish
Long Term:         Bullish
Moving Averages: 10-period     50-period      200-period
Close:           5.99          5.02           6.05
Volatility:      84            87             94
Volume:          3,964,352     3,809,329      3,170,461

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

APHRIA INC is currently 10.6% above its 200-period moving average and is in an upward trend. Volatility is Our volume indicators reflect moderate flows of volume into APHA.TO (mildly bullish).

Our trend forecasting oscillators are currently bullish on APHA.TO and have had this outlook for the last 10 periods. Our momentum oscillator is currently indicating that APHA.TO is currently in an overbought condition.

We invite you to try out any MetaStock product (including Add-Ons) for 30 days. If you are not convinced that it helps you make more accurate, educated trading decisions, just return it to us within the 30 days for a refund of the purchase price. It’s that simple. This policy does not apply to subscriptions.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of the Toronto Stock Market. Trading

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HEFFXhttp://www.heffx.com
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

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