BreakoutTheory

AAPL right at support.

NASDAQ:AAPL   APPLE INC
56 3 2
$92 was the August low. Might be a good place to go long, tight stop
YoungMula
10 months ago
huge head and shoulder pattern to be aware of starting Nov 2014
Reply
BreakoutTheory YoungMula
10 months ago
Indeed. If the price crosses below the neck line / support level. I'd go short.
We do need to wait till the market tells us what's going to happen.
I theorize, just from experience: A break below the neckline usually happens from a distance, and the daily move would be in excess of around 7-8%
We're about 6% away to the neck line. So there's still a chance we could rip lower in next weeks action.

Another thing: Volume. The prior weeks trading volume doesn't seem unusually high enough that would cause a break in the neckline.

Overall I'm slightly bullish on this chart at this price level. Then again.....I could be wrong. I have been many times. With volume drying up, we could gap well past the neck line.

Best thing to do is wait for either a bounce off the $91 or a clear and violent drop past that level.......then pull the trigger and go with the momentum.
Reply
BreakoutTheory YoungMula
10 months ago
H&S or Bounce?
Here I drew some lines. Forgot to draw them on the one above.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out