Today was the day AAPL needed to close over 146 for bullish continuation...
As we see, it failed twice to close over the .618 fib and is still rejecting the long term trend-line resistance.
Just to paint a different picture... its also been trading in the 2nd std dev for awhile now...which means it is severely overbought.
Just for more context, statistics show that: "when stocks are following a normal distribution pattern, their individual values will place either one standard deviation below or above the mean at least 68% of the time. A stock’s value will fall within two standard deviations, above or below, at least 95% of the time."
Consider looking to enter: 8/20 142p with a SL of 146.5 (61.8% fib)
Happy Trading!
As we see, it failed twice to close over the .618 fib and is still rejecting the long term trend-line resistance.
Just to paint a different picture... its also been trading in the 2nd std dev for awhile now...which means it is severely overbought.
Just for more context, statistics show that: "when stocks are following a normal distribution pattern, their individual values will place either one standard deviation below or above the mean at least 68% of the time. A stock’s value will fall within two standard deviations, above or below, at least 95% of the time."
Consider looking to enter: 8/20 142p with a SL of 146.5 (61.8% fib)
Happy Trading!
Trade active:
Target reached, reentered on the break of 146.5 again!
