APC Group Inc (APC)

I know I shouldn't be buying the stock first without studying its chart but I already did bought without proper research so I'll study the next position that I'll be taking.

Anyway I was trying to convince myself that buying APC was right. I think I found one:
*Bad trading habit!

APC 5-Year Weekly Chart:



1. Clearly that the major trend is up.
2. Price is currently trading(resting) at its resistance at 0.89.
3. Fresh MACD buy signal.
4. RSI reading is still not overbought.

With this being said, I might still have a couple of weeks for it to climb up before starting its really loooonnnnggggg consolidation.

Prices are poised to break that 0.89 resistance levels as the current RSI reading neutral(not yet overbought).

Once 0.89 is broken, I am expecting it to test the psychological resistance at 1 which I believe will be taken out(biased lol). After breaking the psychological resistance, 1.28 would be the immediate target.

I would close my position if:
1. price meets strong resistance 1.28;
2. weekly RSI hesitates at 75-78.

Strongest weekly RSI reading is 90(1.28).

Now that I found reasons not to be shaken out, I can sleep soundly at night again. :)

I'll study the charts before putting up a trade next time, promise!