Like many stocks, at its March low of 3.00, APWR had lost 90% of its value. Also like many stocks, off that 3.00 low, APWR has posted extraordinary gains in just three months' time.
When APWR broke out of a Double Bottom, or "W"-Bottom, on April 13 on the upside takeout of the 6.38 "W"-pivot, it already had gained 113%. The breakout suggested even greater gains because it put a target of 9.51 IN PLAY.
How 'bout a gain of 389%, at the recent high of 14.68? Whoa! If this has been "only" a Bear Market rally, I'd like to see what it could do in a Bull Market! LOL.
After the 9.51 target got MADE, the stock put in a high at 11.80, then settled in to form a bullish continuation pattern, the Symmetrical Triangle in purple. On May 27, the day of the breakout, the top of the pattern came in at 11.107. The Gap Up opening was to 11.10, within one penny of the technical breakout. There was a pullback to 10.80, an exact 50% retracement of the gap between the 11.10 open and the prior session's high of 10.50, then APWR powered higher and finished the session up 16% on good volume. The breakout put an upside target of 15.11 IN PLAY. The high, thus far, is 14.68.
APWR currently is consolidating the 32% gain off of the purple Symmetrical Triangle breakout. It has established three data points for a possible second bullish continuation pattern if it can find Data Point #4 (question mark), then break out to the upside again.
2 comments:
I hope you had some of the APWR in your longer term account.
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