OccamsPhazer

AAPL breaking out of its symmetrical triangle

Long
NASDAQ:AAPL   Apple Inc
Yes, AAPL is a extremely large cap company, and yes it is near ATH. BUT the chart looks bullish! Yesterday, AAPL broke and held >$180. This still needs to be confirmed, but this $180 level breakthrough may be a breakout of the current symmetrical triangle it has found itself in. $180 is a KEY level to turn into support. On top of that, you have an ascending triangle AAPL is also currently in. This ascending triangle's support line was able to cart AAPL out of the even LARGER ascending wedge. Keep in mind, ascending wedges are typically (not always) bearish - this time it proved wrong. $182.19 is the next key level to break. A 3 day or weekly candle opening and closing above 182.19 would be extremely bullish leading into the new year. 4 trillion dollar market here we come? If 182/19 is reached and rejected I would consider puts under 178.50. If 182.19 is broken and held, I would consider long calls to see if January brings extra buying pressure. These are big IF's. Do your own DD. NFA.
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