Canadian cannabis company Aphria (APHA) reported disappointing earnings numbers Monday morning and is trading lower. (Readers of Real Money may remember that Aphria and Tilray (TLRY) have announced that the two companies will be merging, making this the largest cannabis company by sales.)
Let's check out the charts of APHA today.
In the daily bar chart of APHA, below, we can see that the shares have been making lower highs since February. APHA is trading below the cresting 50-day moving average line but is above the rising 200-day line which intersects down around $9.
The trading volume surged into the middle of February and prices soared but the volume has declined since that spike. The On-Balance-Volume (OBV) line shows a rally to the middle of February followed by a flat move since. Buyers and sellers of APHA appear to be in balance.
The Moving Average Convergence Divergence (MACD) oscillator is bearish and is crossing the zero line for an outright sell signal.