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OptiontraderMGR

2,569 Posts.

468

08/09/18

19:13

Post #: 35479033
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Originally posted by Stage-2-Uptrend ↑

Correction to previous post:

The first signal to sell APT was in the $21 to $23 area, simply because it was an overextended chart bubble. This was an aggressive sell area for shorter-term traders.

The next objective signal was a count-back line exit at $17.50. Tuesday Sept 4, 2018 was the first day to get out when APT closed for the first time below $17.50 at $17.37.

The stock investing subscription service I am subscribed to only acts on weekly charts. They recommended clients to buy APT at $10 back in July 9, 2018. Their trailing stop loss profit protect point was $16.75, hence clients will be advised to exit APT next Monday.

APT now needs to re-set before taking off again. The positives are that price is no longer in bubble territory, also the longer-term 130-day and 200-day exponential moving averages are still rising.

I sold 80% of my APT holdings at average $19. The other 20 percent at $17.50. It was my largest position at 30 percent of total trading capital. I now wait until the moving averages start to flatten out and head up again.

The 1-hour chart 9/21-EMA trend is also currently strongly down.

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Stage 2, from my charting, I can see strong support at $13 to $14 dollars as a great price for accumulation in readiness for the next major leg up. This is the area that I will now target.

APT Price at posting: $15.00 Sentiment: None Disclosure: Not Held
1 Upvote

0 Great analysis

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