Wednesday, August 29, 2012

APKT Breakout and Target



Click on chart to enlarge


In my last post, I highlighted APKT as a base and break candidate at $18.00.  Today it broke out on high volume, closing at the highs of the day.

The chart on the right is the daily timeframe.  The pattern is an inverse H&S bottom.  On a measured move basis, we target $23.00.  However, APKT has been in a downward spiral since last year, and we want to be aware of the ambush short that could get in the way of meeting our MM target.

The chart on the right is the hourly timeframe.  We are in a fib extension long from the high prior to the BO to new high. Pullbacks to the ambush zone from the most recent high can be bought if they trade before we reach the target.

4 comments:

john said...

Always good to see you posting Jamie. AFFY interesting on daily, weekly, monthly, charts.

Jamie said...

Hey John,

Good call on AFFY. Nice squeeze yesterday. Good setups are hard to come by these days. Mostly trading index futures.

Steave Hames said...

I already bookmarked you because i know that i can get better knowledge and reading from your post and again i got something new from this post. so keep sharing

Day Trading

James said...


Hi – Will you please post a link to your Blog/Article at The Day Trading Community at vorts.com? Our members will really appreciate it.
Members include: Other Day Traders, Day Trading Experts and Professional
It's easy to do, just cut and paste the link and it automatically links back to your website. You can also add News, Photos, and Videos if you like.
Email me if you need any help or would like me to do it for you. I hope you consider sharing with us.
Please feel free to share as often and as much as you like.
The Day Trading Community: http://www.vorts.com/day_trading/
Thanks,
James Kaufman, Editor