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.