I recent traded AAPL into the ATHs. I closed the position in anticipation of some sideways to down price action off the high. AAPL has done just that but maintains a bullish look. It is now setting up again for a potential move higher. It had some positive news regarding potential partnership with Hyundai today to make a self driving car. If this news has legs it may be the catalyst to push AAPL to ATHs. Price completed a nice reversal candle combo at the upward trend line today and is above the 236 keeping in firmly in the bull zone. My trigger will be a consolidation break above todays high. Targets would be the ATH then the fib extensions. Stop would be a close below the most recent low.
Comment:
Trade active. Not much of a move so far going into the weekend. We will see how it plays out. May take a few days to get going if at all. I always start my positions small and then add on strength. This allows me to place my initial stop lower. Right now my stop will be below the most recent pivot at about 26. You can't be afraid to stop out. Sometimes it takes a few tries to catch a big move.
Comment:
AAPL is making its move today after a few days of bouncing around. If it gets going it could be a multi day runner as the news cycle catches on.
