The BNPL space continues to dominate the press as the volatility to the downside gathers momentum. Over the last 4-weeks APT has corrected 32% into our identified major technical support area, from a risk / reward perspective we are now bullish APT which coincides with our short-term positive outlook for the IT Sector – that’s a contrarian call which certainly looked off the mark yesterday!
MM likes APT for a ~20% bounce from the current region.
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NB With MM already long the highly correlated Z1P its unlikely we will buy APT but the risk / reward does look good as the stock falls towards the psychological $100 area.
