TradeVulture
Short

AAPL Showing Signs of Distribution

NASDAQ:AAPL   APPLE INC
1274 9 5
Very interested to see AAPL             break down over the course of the next few weeks. The explosion in unusual volume and lack of accompanied progression, along with the bearish wedge hint that AAPL             is running out of steam once again. Thinking the volume increase is probably more to do with the recent split.
bodo.stock.9
2 years ago
Can advise at which price level to start shorting? Break of the uptrend support line of the bearish wedge? Or once it drops and close below the horizontal dotted line you drawn on the weekly chart?
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TradeVulture bodo.stock.9
2 years ago
That's completely up to you and your trading style. I mostly look for progression of levels of support either lost or gained as entry and exit points. The momo on this thing is pretty sick to the upside, so the distribution process will take a while. I expect this thing will probably be ranged bound in a sideways holding pattern. A close below 100 is probably a safer entry. Anything above that offers potential of making a new high first. Completely up to you.
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That is not unusual volume, that is a stock split 100% ;)
Apple is bearish, but not because of volume
+1 Reply
pdiddy.pablo vlad.adrian
2 years ago
Yea what he said. That's just volume after the split...I also think ignoring fundamentals and only playing technical, especially to the short side, has been historically a low yield bet with apple (outside of brief daily or weekly moves).
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TradeVulture pdiddy.pablo
2 years ago
I only play technicals because everything is techinial.
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joshjones TradeVulture
2 years ago
This narrow-minded view will lead you to miss basic things like misinterpreting large volume as "unusual" when in fact it is well BELOW usual for AAPL post-split. Back-adjust (multiply by 7) the volume prior to the split and look for yourself.
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TradeVulture joshjones
2 years ago
To be completely honest, I don't even use volume on my charts. If you look in the description you will see I said this is probably due to the split. But if you look at 09/08 volume candle, you will see how it was much higher, and resulted in very little progression. This is a bearish signal.
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TradeVulture vlad.adrian
2 years ago
Right. The 9/08 candle looks pretty bearish to me though.
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TradeVulture
2 years ago
Get Paid.
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