i received an alert early today on the break of this resistance line/possible neckline on an IHS pattern but i would encourage you to read the original post on the XES possible IHS pattern i made the other day, in particular, the points about continuation vs. bottoming IHS patterns and most importantly, the volume criteria for these patterns (which APC does not get passing marks). however, today’s volume on the breakout is above average and as i said in that post, this low volume market is highly driven by technical patterns right now so the trade may play out nicely, at least until the music stops. will mark this as both an active trade and trade set-up for now. make sure to place the appropriate stops. fwiw, my preference is to see how APC follows thru tomorrow and maybe into the end of the week.
