The_Unwind
Short

SHORT APPLE On ANY RALLIES/ BEARISH VOLUME PATTERNS

NASDAQ:AAPL   Apple Inc
207 views
5
I had thought in my last post that AAPL was starting what might be
a potential parabolic advance. I have changed my position completely,.. almost overnight.

Volume is Decreasing , not Increasing in recent days, and to me that is a sign
that the buyers that wanted, and needed to buy AAPL are already in the stock at these price levels !

My new recommendation is to short any additional rallies in AAPL with appropriate size and build short position.

The stock may lead the next down leg in the market, when it comes, so be alert and be ready.

THE_UNWIND


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Comments

Great call once again. Interested to hear your take on this Netflix rally with the low volume, large shooting star on 1 hour this opening today, perhaps in for a down move or just a pause/interim top? Thanks and Great charts as always!
Reply
@ATCTA,

Hi Jay,

NFLX filled the GAP on the Daily Chart from 7/30/18 breakdown below 353 on 8/7/18

I always look at RSI and MACD on the Daily Chart to find confirming evidence and whether there are any divergences in play to be aware of.

Daily RSI is still below 50,and MACD is still below 0 , both indicators are still Bearish on the Daily Chart.

Any kind of breakout to the upside on the Daily RSI above 50, and Daily MACD going Positive would be a warning, if short,

that the rally off the 328 low still has further to go on the upside.


THE_UNWIND
Reply
ATCTA The_Unwind
@The_Unwind, great points, thanks for the reply!
Reply
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