APT is sitting at the floor

On the 1-hour chart, APT has been grinding down inside a descending channel and just tagged the lower boundary. That is where the trader expects a bounce.

“The price is moving within a descending channel on the 1-hour timeframe; it has reached the lower boundary and appears poised for a rebound.”

Expect a retest first

The call is not for a straight launch. Price is likely to come back and retest the lower boundary, and holding it is what confirms the move up.

RSI says oversold, not doomed

The Relative Strength Index still reads bearish, but the trader treats oversold conditions on the hourly as a setup for an upward break rather than a warning.

“The Relative Strength Index indicates a bearish trend, but an upward breakout is likely due to oversold conditions.”

Two levels hold the floor

First support sits at 0.525. The stronger one is the green zone at 0.480, where price has bounced repeatedly, which is what makes it the real line.

“the price has bounced off this area multiple times, making it a strong support level”

The 100 MA is in reach

Price is climbing toward the 100-period moving average and is close to it now. Getting there would back up the case for a rise.

Entry, targets, stop

Entry at 0.593, with targets at 0.611, 0.632 and 0.659. Stop loss goes at the green resistance zone, and the trader's closing line is capital management.

“Remember this simple rule: Capital management.”