March 30, 2011

$APC ready to move.

While my first entry in APC was on the break of 83.00, I was stopped out which gave me some time reevaluate.  Over the past few days it has been holding above 81 and started trading side way creating a flag, allow time for the moving averages to catch up. If you break down to the 30 or 60 minute chart a move above 83.50 or this descending trend line should signal a move higher with stops under that 10dma. A pull in to the 21/50 day moving averages certainly wouldn't be out of the question. Anything is possible.
         Trading down today while the market remained strong isn't what I wanted to see. It will remain on my watch list.

10week line sits at 79.40
10sma at 80.98
21sma at 79.68
50sma at 78.83
           Showing a lot of support in the 78-80 area.



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