APT Technical Outlook
According to the chart, the falling channel is still valid. APT lost the support level at $4.06 and started moving toward the lower border of the channel, leading to a weak outlook in the short term.
The price is currently trading around the level $3.94. Trading below $4.06 increases the downward risks. The level at $3.74 stands as the first station; below it, $3.45 and $3.16 would be on the table.
The level $4.06 can work as a key level in terms of upside moves. If the price can break above it, then it may have the potential to surge to the levels at $4.44 and $4.93. The price needs to exceed the range $5.10–$5.60 to confirm the actual breakout. If this happens, then the trend reversal may speed up.
Summary:
- Current price: $3.94
- Trading below $4.06 may open the way for support levels at $3.74 → $3.45 → $3.16
- Trading above $4.06 may pave the way for $4.44 followed by $4.93
- The range $5.10–$5.60 is crucial for trend reversal
These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to the market conditions. However, the user is responsible for their own actions and risk management. Moreover, it is highly recommended to use stop loss (SL) during the transactions.
