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Aptiv (APTV) Chart Showing Relative Strength, Poised for Run at Recent Highs

Aptiv (APTV) Chart Showing Relative Strength, Poised for Run at Recent Highs

by | Oct 4, 2021 | Chart SetUps

Aptiv (APTV) showing relative strength today and nearing a small flag breakout above $156.50 with room back to the top of a large rising channel near $170. RSI is moving back above 55 this week and MACD with a bullish cross recently as momentum starts to shift. Today’s move has put shares back above monthly value and the breakout would clear the top of 2021’s value area high. APTV has been in a nice weekly consolidation since early 2021 and a longer-term move higher measures to $185. APTV has seen some bullish put sales in the October $140 strike recently while the January $165 calls with buyers in June, albeit smaller in size. The company raised their outlook in August despite a challenging near-term situation with the ongoing shortages and they remain well exposed to major secular themes within the space like electrification and autonomous.