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Aphria Stock Chart Pattern Signals $10 Target

Aphria Inc (APHA) could be on the verge of a mega move to the upside. The stock is currently trading at $4.93 but could see $10.05 in the coming weeks/months. The reason for this potential surge is an Aphria stock chart pattern known as an inverse head and shoulders. This can easily be seen on the daily stock chart. When the neckline is broken at $6.00, a move to $10.05 is likely. While buying Aphria at its current $4.93 is a bit early, I am a believer there is a high reward, low risk trade setup heading into the election. As the odds on predictit.org show, the likelihood of a sweep for the democrats is increasing. If the democrats sweep, marijuana will be federally legal within a year. This would be huge for all the US and Canadian marijuana producers. This makes me like the Aphria stock chart pattern even more and be willing to buy some marijuana stocks like Aphria prior to the head and shoulder neckline breakout.

The other players that are trading near 52 week and all-time lows worth a look are Cronus (CRON), Canopy Growth (CGC), Aurora Canabis (ACB) and Tilray (TLRY). Or, to mitigate risk, investors could buy the Alternative Harvest (marijuana) ETF (MJ). This gives exposure to the sector without company specific risk. However, considering the Aphria stock chart pattern inverse head and shoulders, upside is likely on this one and major upside at that.

Based on multiple metrics, these marijuana stocks (group) as a whole could easily double in the coming months. However, if they run up 50% or greater into the election, smart money will take some off to protect against a split House and Senate. As always, the smartest traders in the world always analyze risk versus reward on a real-time basis.

Members of Gareth’s Verified Investing Alerts have closed out 166 swing trades already in 2020 for a net gain of 1,392.45%. Join now and get the exact entry/exit price alerts, stops and targets…LIVE. Get The Action NOW by Clicking HERE