$APT - Short Term Bear, Long term Bull

APT has broken out of its downward parabolic trend, but now Its entered more of a ranging downward trend. Currently ranging between $12 support & its .5Fib line at $13. Last attempt at breaking out failed to make a higher high, so I see Wave 5 ranging a bit longer before breaking down. I don't see us breaking out of the downward Red Channel until it reconvenes at its long-term trendline at around $8 which should happen next month according to what the technicals are showing. No position now, but have buy orders laddered in the $8 range.