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PigsMightFly

7,705 Posts.

2797

09/09/20

12:09

Post #: 47202696
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Originally posted by StefanF: ↑

I must admit, while it's still early days SP is holding up much better than I expected. Currently down 3.4% on a day when the ASX is down 2% and the tech-heavy NASDAQ is down over 4%.

Very much a positive surprise. I'm hoping for a close above $72 which is a pretty important 30-day support/resistance point. Followed up by a green day tomorrow could signal a turn around. Despite a lot of downrampers suggesting the end of APT is near, this simply isn't true. If a stock drops low enough investors start seeing value.

If tech continues to get hammered in the US we may see $66 again but unlikely it'll drop further in my opinion. It needs to be acknowledged that institutional investors that gobbled up shares at $66 would have considered threats from the likes of PayPal when buying in.

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APT is down ~25% in two weeks.

APT Price at posting: $72.34 Sentiment: Sell Disclosure: Not Held
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