Trade Journal: Long $APT - Coiled Spring - 3/18/2020
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
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
Trade closed: stop reached:
Stopped out APT at 11.49. Moved some up as a higher low was made but got stopped out. I still expect APT to take off in the near future but it seems the timing was off on this one. Keeping APT on watch.