Price looks heavy as traders play a waiting game to see if selling pressure continues

Potential Sell Entry Alert to Watch APT

Time Frame : Daily/Weekly

Sector : Software and Services/Technology

Key Stats : $5.99 Billion Market Cap, VWAP 23.475, ASX Ranking 76, 4 Week Av Turnover $45,628,228, Current Turnover (Intraday as at time of alert) $25,986,311.

Company Overview : Below in previous Alert

Broker Consensus : BUY

APT – Afterpay Touch Group Limited

APT continues to flounder with traders selling on the back of a positive news release Friday suggesting risk is being taken off the table. We can see the volume on the recent rally off 21.00 has fell away which suggests to us their is no buying interest up at higher levels. We expect to see price remain heavy and will be watching for potential lower highs to pressure the large amounts of fuel (holders) built up from the $15 zone. If the market melts down again we expect to see buyers racing to lock away the gains. For now, it is a wait and see game.

Stock Code : APT – Afterpay Touch Group Limited

Company Website : www.afterpaytouch.com

Current Price : 23.51

Status : On watch for potential lower high and push below 20.00

Alert History

Previous Alert 8/08/19

Potential Sell Entry Alert to Watch APT

Time Frame : Daily/Weekly

Sector : Software and Services/Technology

Key Stats : $5.68 Billion Market Cap, VWAP 22.498, ASX Ranking 79, 4 Week Av Turnover $43,647,939, Current Turnover (Intraday as at time of alert) $13,739,133.

Company Overview : Below in previous Alert

Broker Consensus : BUY

APT – Afterpay Touch Group Limited

APT continues to come under pressure since the previous alert and negativity is being helped along by the recent selloff. We see the potential for much lower prices as buyers start to question their holdings into APT and fight to lock away some gains on increased debt levels, increased losses and decreasing cash levels. Add to that the emergence of competitors (CBA backed Klarna), any new selloff may see sellers racing for the door. Watching for a lower high for a potential sell entry setup.

Stock Code : APT – Afterpay Touch Group Limited

Company Website : www.afterpaytouch.com

Current Price : 22.56

Status : On watch for potential lower high and push below 20.00

Previous Alert 29/05/19

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