Aboitiz Power Corporation (AP)

It looks like that the bearish symmetrical triangle pattern has been invalidated as prices have already moved out of the apex of the triangle.

Pullbacks after testing 29.80 in the short term would probably provide a good window for entry.

Aboitiz Power Corp (AP)

Daily Chart



Hypothetically short of 4000 shares at 27.15.

Waiting for reversal and long entry signal.

Aboitiz Power Corp (AP)

Short the market candidate:



Sell 4000 shares once prices break below 26.90(26.80).
Double up positions once prices break below 26.20(26.10).

Trailing stop at 24.50-24.15.

Cover short positions at 22(Symmetrical triangle target: 22.10)

Stop loss 5% on average entry.

Aboitiz Power Corp. (AP)

This is the reason why I am still a little skeptical with AP:



Optimal buying window for AP is when it forms a higher trough.

Trade Setup: AP - Status: Open

The red box indicates where I initially believe that the price will head back down again as it broke down from its support - which I believed it should not so I didn't buy yet. However, I was wrong in my analysis that time so I decided to be on the right side of the market: Buy and go long.

B1 = First set of buying was staggered: First part was done @25.85. The buying during the entire session was strong I decided to chase it and got the second part @25.95.
It closed at 26 - the buying of the stock was immediately proven right as it immediately showed profits.

B2 = Second set of buying was also staggered: First part was done @28. The buying during the early part of the session was strong so I decided to chase it and got another set @28.25. However the buying was unsustainable, and it closed lower at 27.90, indicating that the timing of my buying that day was terrible. I let it run though as the reason for buying that day was still valid.

I was trying to buy a cross over of price below the 10SMA. However, price never dropped below it so I bought as close to 10SMA as possible.

Earnings report is the other reason why I took position.

Initial personal target price was 35. However, personal tp was reached and breached today so I am extending my holding period further because two foreign brokerage houses bought a large amount of shares on the market.

ATR buying: The day ATR buying was evident.
Deutsche buying: The day Deutsche buying was evident.

ATR buying has also formed a hammer candlestick(bullish indication) and price opened below the 10SMA but closed higher. It should have provided a good entry for a short term trade - if you weren't too afraid to buy.

The red circle on the MACD suggests a short term take-profits signal.

The red asterisk on the rate of change would suggest short term peak.

TOP 20 Buyer-Seller:



The image of the top buyer/seller is to see who's getting in and who's getting out within this past 3 days.

General trading plan: Sit tight and let the profits run wild.
Lesson in this trade: Averaging up works; always buy what's showing strength;
and don't be too quick to take your profits. :)

The big question: Will AP continue to advance in the short to medium term?

Well, you wouldn't know until you bet.