A head and shoulders formation (3 arcs: The head is the biggest red arc and the shoulders are the arcs beside it), being formed by APC, is soon to breakout. In fact, it tried to breakout today (indicated by the blue circle) with heavy volume but failed since the price didn't end up above the resistance line (red horizontal line) of the said formation. But once it does, my minimum target price is set at 0.63. Click image to enlarge!
APC has broken out of the neckline (red line) of its reverse head and shoulders formation with heavy volume. Based on technical analysis the immediate target for this stock is 0.61 and a good cut loss point is when it goes back inside/below the neckline. Click image to enlarge!
After APC has been going down for months now, it decided to move sideways. What is possibly seen in the chart is a reverse head and shoulders formation if this could be confirmed by the breakout from the neckline at 0.43 along with a huge increase in volume. Basing it on technical analysis, when this breaks out, the the minimum target price for this stock is 0.61. Click image to enlarge!
