themarketzone

Bullish Bat on $AAPL - Two scenarios to monitor

NASDAQ:AAPL   APPLE INC
$AAPL             closed the week below its daily 200 SMA line and below its weekly 50 SMA line - Major bearish alert on $AAPL             .

There's bullish harmonic pattern forming on $AAPL             with completion near 108$ which could be an interesting buying zone to trade a possible pullback move.

Since $AAPL             didn't quite get to the Potential Reversal Zone (PRZ), I'm showing two different trading scenarios for you to monitor and maybe trade if they play out according to the plan:

1. $AAPL             rallies back to 122$-125$ from current levels - If $AAPL             will not decline lower towards 108$ and rally from current price level, it could present a bearish continuation setup near 122$-125$ zone that includes major structure and the 200 SMA line (now resistance). The final target for this scenario will be the completion of the bullish Bat near 108$.

2. $AAPL             will decline towards 108$ and complete the bullish Bat - Bullish setup with stop loss below X and final target near 122$-125$

This analysis is part of this week's Weekly Markets Analysis newsletters - http://goo.gl/AGTYS1

You can subscribe to my weekly newsletters here: http://goo.gl/HXjCPV
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Tomer J,
The Market Zone - You trading Edge
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