• Dow pattern- higher tops and higher bottoms
• > 50 , Momentum ( overbought = 70: probably correction move)
The uptrend is confirmed by the cross of MA10 above MA20.
Prices are trading above the at 92.00 and below the 61.8% Fib retracement level.
Therefore, we will recommend LONG POSITIONS for the no position holders on Apple Inc . Entry level after a daily close above the 61.8% Fib at 109.30, take profit at 112.00 the SMA200 and take profit 2 at 119.64 (R2). Stop loss should be a bit below the 61.8% Fib 109.30, thus the stop loss is at 106.50.
For LONG-holders we will recommend to HOLD their long positions and adopt the same stop loss and take profit orders as mentioned above.
For the short-position holders we will recommend them to enter the SHORT POSITIONS in case of a daily close below the 23.6% Fib at 98.85, take profit at 92.00 (S1) and stop loss at 103.40 area.