AIPC has formed a very nice base just below highs of $40.00. It made a nice move up into the $40.00 resistance area closing slight above on Friday and seems poised to continue running.
Break out traders can go ahead and nibble in the $40.00 area. However, I would recommend a tight stop in the region of $39.00 or so or an even earlier exit should AIPC fail to follow through immediately on Monday with an initial target of about $43.00 - $44.00.
My style of trading relies more on pull backs. So although I would take a break out trade occassionally in set ups like the one AIPC is currently forming. I generally prefer to wait for orderly pullbacks into support lasting anywhere from 3 to 15 days.
So that would have been my plan for AIPC if I had additional buying power available. However, my eyes are set on SVN. Yet AIPC remains a high probability swing trade but a lower probability position trade (based on my general exit strategy, minimum risk/reward ratios, and current position of the markets in their intermediate term cycle).
Here is the chart and set up for those interested taking the break out trade in AIPC.