AAPL is forming a wedge and been lagging for 2 years. I was expecting $182 but we never saw that level, after weeks of $200 range consolidation it's clear this is basing, first target of resistance is $223 then we could be off to the races. I would expect to see this as soon as next week provided #donthecon can stop bullying American companies long enough to focus on important things
Trade active
AAPL still a BUY here. However I don't do earnings plays as of the last 2 years I will not hold any position overnight. The IV and theta decay dont make the risk reward make sense. I have traded in and out of APPL 6 times since posting this mostly using the short term chart 5-30 min, when I have a direction called I don't mind getting "stuck" with calls on a bullish position. AAPL is frustrating a lot of people since it's lagging but I do believe it will have a catch up trade very soon, the direction pre- earnings is clear UP. Weeks of consolidation and higher highs and higher lows. ER is always a wild card with all stocks as no matter the number the interpretation cannot be predicted ergo it's not worth the risk to hold through ER release Trade closed manually
Another rough week, took at $54,000 loss on this. Broke structure IV on options was over elevated and of course it was a sell the news
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.