Are the cracks starting to appear as price retreats off the highs

Potential Sell Entry Alert to Watch APT

Time Frame : Daily/Weekly

Sector : Software and Services/Technology

Key Stats : $5.95 Billion Market Cap, VWAP 24.831, ASX Ranking 74, 4 Week Av Turnover $43,988,327, Current Turnover (Intraday as at time of alert) $9,130,337.

Company Overview : Afterpay Touch Group Limited (APT) is an Australian incorporated company. Afterpay focusses on applying its technology to provide a retail centric, omni channel retail service that facilitates commerce between retail merchants and their end-customers. Afterpay delivers this by providing a platform that allows retail merchants to offer their end-customers the ability to buy products on a ‘buy now, receive now, pay late’ basis without the end-customer having to Apply for or enter into a traditional loan, Pay any additional amount (by way of interest or upfront fees to Afterpay) for the merchant’s products if instalment payments are made on time or Provide extensive personal information that could cause delay or failure to complete a purchase.

Broker Consensus : BUY

APT – Afterpay Touch Group Limited

APT may be seeing the cracks starting to appear as price retreats off the highs at 28.70. We see the potential for APT to correct lower as the current leg up is extended and may be out of steam. There is potential for a move down below 20.00 as most traders and funds are loaded long and we may see a run for the exits as they lock in some gains. We are now watch for further confirmation off a lower high potentially up around 27.00.

Stock Code : APT – Afterpay Touch Group Limited

Company Website : www.afterpaytouch.com

Current Price : 24.76

Status : On watch for potential lower high