APX Charts, page-2978

Happy I picked up another large chunk of Apx at 8.50 last week as I posted on the other thread, based on the bounce to 9.65 this week.

of course all this short term price action really means very little, what we need is the AGM update which will drive the next leg up or down. It’s only 2 months since the HY results so they really need to maintain guidance at the AGM in order to rebuild shareholder trust in their credibility. If they maintain guidance, i think this will stop the bleeding in The sp for now and we can build a new base between $9-11 with a view to hopefully further growth guidance in 2022 at the feb results, which will then drive the next leg up.

my point is that the chart is symptomatic of sentiment, but I only use it to guide my shorter term entry and exit points when adding/ exiting a medium to long term position. I do not trust the chart to decide whether or not to buy or sell, just to guide timing of entry / exit points.

otherwise you are just following (and by definition lagging behind) the crowd).

Apx is one of the only positions I’ve seen go from a Disallowed plus down to now a net slight loss on current holdings (having taken profits on some of my $3 stock on the way up and then added back on the way down at around $20, $13 and $8.50 so overall I’m now slightly in the red. Ordinarily I tend to bias towards adding to my positions as they rise and cutting my positions if they start to head down, fighting actively against loss aversion bias, but i thought Apx was overvalued on the way up so lightened a little, and now I believe it’s intrinsically under valued with a good graham-esque ‘margin of safety’ at 8.50, just as I thought the same of alibaba at HK 135 last week in the midst of evergrande panic and tech wobbles.