Hi Traders,
Apple (AAPL) Has broken into a fresh range and has managed to maintain its momentum in the new range. This tells me that we have a stronger chance of price continuing to the next barrier as apposed to falling. We see that the 151 are has a significance as price as tested this area many times before and respected it. Price has now been able to break above and remain above.
I would like to see a pull back into the area once again and have price respect this level of 151 once again before entering any trades. As always a rejection with wicks followed by strong bullish candles would be enough for me to take on the risk.
My target is at the next barrier which is at the 165 area. Price should smoothly go to this level as we have a clean range, but nothing is set in stone. I would not take part in the trade if price happens to break back below 151 with high volume. I would then have to reanalyze and take on a new perspective.
Let us wait for the market open and see what happens.
Renaldo Philander.
Apple (AAPL) Has broken into a fresh range and has managed to maintain its momentum in the new range. This tells me that we have a stronger chance of price continuing to the next barrier as apposed to falling. We see that the 151 are has a significance as price as tested this area many times before and respected it. Price has now been able to break above and remain above.
I would like to see a pull back into the area once again and have price respect this level of 151 once again before entering any trades. As always a rejection with wicks followed by strong bullish candles would be enough for me to take on the risk.
My target is at the next barrier which is at the 165 area. Price should smoothly go to this level as we have a clean range, but nothing is set in stone. I would not take part in the trade if price happens to break back below 151 with high volume. I would then have to reanalyze and take on a new perspective.
Let us wait for the market open and see what happens.
Renaldo Philander.