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Goodfella58

4,275 Posts.

1889

13/04/20

17:10

Post #: 44018095
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Originally posted by StefanF: ↑

I took a short-term view when I sold all my shares in late February and early March. I took a long-term view when I bought shares back in late March, early April. In particular, why Afterpay was such a strong buy at $10. The market sentiment that dropped Afterpay from $40 to $8 would have included the fact that there is an expectation of slower growth and higher bad debt charges and the possibility of slower geographic expansion.

However, it also included more than that, it included panic selling, it included stop loss triggers and margin calls due to the severity of the equity market downturn. This creates, as you noted, buying opportunity as there was a large divergence between the value and share price of Afterpay.

I'm not sure about the 8 trading days you are talking about, but tomorrow's business update will likely be setting the trend for the next foreseeable future.

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I'm expecting another 5 % upside in the general market, and sting resistance on the Monthly chart for APT at 24 dollars .

I would think many short positions have been covered now so unless the update is exceedingly bullish I can't see 24 $ being breached.

if it is the risk/ reward for a short position is not good

APT Price at posting: $22.00 Sentiment: Sell Disclosure: Not Held
2 Upvote

0 Great analysis

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