If there is one thing I love about APE it is the way it respond to Elliot Wave analysis.

Wave 1 ending at $17.298, wave 2 respected the Fibonacci retracement level of 0.786% at $9.505 then consolidated forming the a,b,c,d,e corrective Elliot wave 2.

After breakout we see the 1.00% Fibonacci Extension perfectly at $19.580. (now this is where the trap occurs most time this level are not perfectly respected they tend to poke out a bit) and that is why I have set a tight stop loss above $19.580 but I am confident based on how APE has been respecting these levels perfectly.

And yes this is what I love about APE!

Furthermore the next retracement downward (you can take a short position at set target at ($17.150 – .120). If APE continue to behave nicely as it has been doing then we will see upward movement from ($17.150 – .120).