AnneTrader
Long

APD potential measured move up

NYSE:APD   AIR PRODS & CHEMS INC
APD             has been in an uptrend all year but the deep pullbacks have made it too unpredictable to long-term trade so far.

On the daily chart an inverted head and shoulders chart pattern offered an opportunity to trade a measured move up. Since the break of the pivot high (which also confirmed the H&S pattern) there have been two gaps up on slightly higher volume .

This had the potential set-up for an almost $20 move up but, if you missed the first gap, the risk:reward is rapidly declining.
It offers a very good buy for a short-term trade as the momentum is up (with the gap, volume and bullish bar all in the direction of the trend).
But for longer-term traders you may want to now wait for a break above the $150 half figure before looking to trade this one.

Ideas Scripts Chart