Is it going to form a cup?

AP may continue to move up and create a cup with target around 42.5 per share to level with the previous high. Both Ichimoku elements on weekly and daily charts are in bullish position which supports our speculation about the cup. The RSI or Relative Strength Index has just started to enter overbought level but I think there is still room for buying.

Still we will monitor the candlestick formation and act accordingly.

Caveat!

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