Reference Chart – APM in the edge of the cliff

April 29, 2013 at 10:55 am 1 comment

Last April 20, Senor Genkumag spotted a pattern similarities between NI and APM. (See reblog article on that date).

In his post, he said.
Don’t get me wrong. I like the APM story. I like the stock since it has the distinct record of being the number one ranked stock in our black box for three months straight. I’ve even included it as the top name in the BoH report just published. Still I cannot ignore two things: (1) potential three pushes transition and (2) pattern similarity in terms of consolidation with NI. Because honestly, its recent movements are not exactly the stuff that breakouts are made of. But let’s see.

A follow up post was made soon after.

Recent chart shows (chart made before trading time today), APM is now trading both the trendline and 50ma supports level with rsi (shown in green line) acting as support (+ rsi level 50). Also noticeable is APM’s weekly parabolic status which is near the rsi level 70 (will act as major support). Having all these supports mean APM is in a level with huge arsenal on its favor. A veteran trader may swing play on these supports with tight stops. With all these arsenals, a breakdown on those walls could trigger another wave of selling.

APM Daily

APM Weekly


Entry filed under: Phisix's Closet (PSEi). Tags: , , , , , .

Paxys Inc. (PAX): Potential Breakout Candidate The New Mining

1 Comment Add your own

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