Wow, lots to unpack on AAPL...
#1 A big ABCD completion from Jun'2013
#2 Price action hitting the upper bound of a channel from Jul'2017. Not to mention it is a 100% extension from the Nov'2017 to Feb'2018 ABC sequence
#3 Negative MACD divergence and price action
Stops can be set slightly above the top of the near-term channel with downside targets $148 (38.2% retracement) to $137 (50% retracement). If you are an Apple lover, you could also set up a straddle in case the channel breaks on the upside and the trend accelerates into an extended CD leg (c.$196 for 138.2% extension).
#1 A big ABCD completion from Jun'2013
#2 Price action hitting the upper bound of a channel from Jul'2017. Not to mention it is a 100% extension from the Nov'2017 to Feb'2018 ABC sequence
#3 Negative MACD divergence and price action
Stops can be set slightly above the top of the near-term channel with downside targets $148 (38.2% retracement) to $137 (50% retracement). If you are an Apple lover, you could also set up a straddle in case the channel breaks on the upside and the trend accelerates into an extended CD leg (c.$196 for 138.2% extension).
Note
AAPL hitting top of the range again. Giving you another chance with the shorts.
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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.