I see Apple is just accumulating. We talked about in my last analysis that we should be careful, and in the 30min chart we see why.
We are inside a big congestion, and yesterday, Apple closed the gap at 126.03. All of this is good, as this offers a chance to trade.
If AAPL breaks the 127.90 again, it’ll hit the 131. The RSI has an advanced breakout, and this increases the odds in the favor of the long trades. But if all of this doesn’t work, and if it loses the 126 one more time, the 4h chart suggests it can drop to the 122 again.
Let’s remain cautious here, always working with the possibilities.
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
With inflation fears gone, I don't see AAPL going down to $122 at all. Current AAPL behavior is rather strange, with new hire of BMW exec for car mfg it's possible news will skyrocket AAPL, or else investors will feel the car venture will drain AAPL coffers ... I see APPL playing in the 130s range next for a while ...
UnknownUnicorn21312077
⋅
@sipiceanu, I agree. It almost hit the target at 131 today, but I think it'll hit there soon. I like your insights, clearly you know Apple well.
Cheers, mate! :)
Teddyruxpin11
⋅
Could you tell me how you scan for good setups?? Thank you for all that you share!!
UnknownUnicorn21312077
⋅
@Teddyruxpin11, hm... I like to searsh for stocks that are correcting but that are still trending. Then I just wait for any interesting pattern around. Nothing too complex or unrealistic. It just requires patience. ;)