APT is another speculative Coronavirus play I have been stalking. APT produces a lot of the medical supplies and protective gear that is in extremely high demand right now. Coronavirus stocks such GILD, APHI, CODX, etc have also been tightening up for the past few days. GILD started to break out two days ago and APHI which has a very similar pattern as APT, broke out today. I am looking for the same breakout in APT within the next few days.
The pattern in APT is very appealing. APT has a clear tightening pattern on the daily chart with 2 inside candlesticks in a row in the past two days. I went long within the latest candlesticks for a possible Coiled Spring breakout.
Entry - 13.29
Stop Loss - 11.25
Target - 25