Channel breakout on APPF as technology shines during pandemic
Updated
- Price action has been range-bound for months following initial pandemic crash and recovery.
- Finding support at top of channel as 168 resistance develops as support.
- Volume swell as new support holds indicates confidence in the move.
APPF looks to be ready for markup and price discovery. Invalidation below 165 indicates more range-bound movement.
Trade active
I was already in the trade when I posted this chart. Entries were between 140 and 155.When price action made it down to the yellow line yesterday, I adjusted the stop down to 162.14. Rationale: 163 looked like a support zone on that daily, so wanted stop to be just under it.
I also added to my position at 167.
Excited to see markup after being rangebound since June.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.