Are Shares Of AptarGroup Ready To Rip Higher?

Shares of AptarGroup, Inc. ATR are oversold and at support. That means there’s a good chance they rally or rebound.

The $120 level was resistance from July through early August 2020. After shares broke this level and traded higher, many investors who sold decided they made a mistake.

A number of these remorseful sellers want to buy their shares back, but only if they can get them for the same price they sold at. As a result, they place their buy orders at $120. This concentration of orders has formed support.

AptarGroup is also oversold. This means it's trading at an extreme below what would be its typical trading range. This will draw buyers into the market, and they could push the price higher.

This combination of being oversold while at support could be a bullish dynamic for the stock.

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