AAPL: Sell Short Support levels for Bounces and Rebounds
This AAPL weekly chart shows all the support levels back down to where 2019 projected revenues will be in line with the previous Dark Pool Buy Zones of 2016. The 2016 support price range is strong, fundamental support for the stock.
As you can see, AAPL doesn’t have precise technical support levels. Even on the weekly chart, the stock price does not stop falling cleanly at the highs or lows of each support range. This is because this stock is a favorite of RETAIL trading systems, Retail Gurus, Retail recommended stocks, etc.
The inconsistent price action suggests that retail investors and traders are mostly day trading AAPL. If the large-lot professionals dominated the trading activity, each support level would cause a consolidation, bounce or rebound and there would not be so many wicks and tails in the candlestick patterns. AAPL's technical patterns convey that swing-style selling short the stock is likely to be rather difficult.
As you can see, AAPL doesn’t have precise technical support levels. Even on the weekly chart, the stock price does not stop falling cleanly at the highs or lows of each support range. This is because this stock is a favorite of RETAIL trading systems, Retail Gurus, Retail recommended stocks, etc.
The inconsistent price action suggests that retail investors and traders are mostly day trading AAPL. If the large-lot professionals dominated the trading activity, each support level would cause a consolidation, bounce or rebound and there would not be so many wicks and tails in the candlestick patterns. AAPL's technical patterns convey that swing-style selling short the stock is likely to be rather difficult.
Martha Stokes, CMT
www.TechniTrader.Courses
Learn how to use the technical patterns of each market participant for better trade planning.
www.TechniTrader.Courses
Learn how to use the technical patterns of each market participant for better trade planning.
