Since the last ER AAPL has come back down to the 120s price range. Although it was not alone in its share price correction as we've seen overall market come down as well in February.
Although I hold a long term bullish stance on AAPL, looking at the short term daily chart I see that we have crossed under the 100 EMA on the daily chart, are still making lower lows and lower highs which gives me a short term hold/bearish stance.
Alternatively we can see AAPL is currently touching a trend line that it's held in the past and has a relativity strong support at it's current price. We saw a glimpse of hope this past Friday in terms of bullish action, and as we await decisions on stimulus, and a recovering economy a lot of people are hopeful of a strong bounce back from tech.
However, confirmation is KEY or you can find yourself jumping in early and getting eaten by theta as we wait for the actual "reversal". IMO this presents a perfect time for adding shares, and buying LEAPS. AAPL is below the recent stock split pricing, and is coming off one of it's best performing quarters.
What is your stance on AAPL?
Have you done any TA? what do you think of it's current level and market strength?
Although I hold a long term bullish stance on AAPL, looking at the short term daily chart I see that we have crossed under the 100 EMA on the daily chart, are still making lower lows and lower highs which gives me a short term hold/bearish stance.
Alternatively we can see AAPL is currently touching a trend line that it's held in the past and has a relativity strong support at it's current price. We saw a glimpse of hope this past Friday in terms of bullish action, and as we await decisions on stimulus, and a recovering economy a lot of people are hopeful of a strong bounce back from tech.
However, confirmation is KEY or you can find yourself jumping in early and getting eaten by theta as we wait for the actual "reversal". IMO this presents a perfect time for adding shares, and buying LEAPS. AAPL is below the recent stock split pricing, and is coming off one of it's best performing quarters.
What is your stance on AAPL?
Have you done any TA? what do you think of it's current level and market strength?
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