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Aptiv PLC - (APTV) - July 28, 2021 

Auto parts producer Aptiv (APTV) continues its steady climb back up the rankings in the SIA S&P 500 Index Report recently returning to the Green Favored Zone for the first time since March. Yesterday, the shares finished in 92nd place, up 7 spots on the day and up 60 places in the last month.

Aptiv (APTV) has been trending sideways in a range between $135 and $160 for most of this year consolidating gains made back in 2020. Recently the shares have been bumping up against the top of this zone. A close above $160 would resolve the rectangle to the upside, complete a bullish ascending triangle and signal the start of a new advance.

On a breakout, measured moves from various points within the triangle suggest potential upside resistance near $165, $180 and $185 on trend. Initial support appears at the 50-day moving average near $153.

Since completing a High Pole rally back in February, Aptiv (APTV) shares have remained under accumulation, continuing to establish higher lows and complete bullish patterns. Yesterday, the shares closed above $158.40, but they need to close above $161.60 to complete a bullish Triple Top pattern and signal the start of a new advance.

Next potential upside resistance appears in the $185.60 to $193.10 zone where several vertical and horizontal counts cluster then the $200.00 to $204.90 area between a round number and a vertical count. Initial support appears near $146.35 based on a 3-box reversal.

With a bullish SMAX score of 7, APTV is exhibiting strength against the asset classes.

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