AAPL may fall to 20EMA on the daily (~$270). Price is increasing, while volume is decreasing which indicates bearish divergence. Put options have also increased both in volume and price within the last week. The 20D EMA has served both as support and resistance (blue circles) for the stock. I sold all shares today, and will look to buy back around $270.
Comment:
AAPL closed slightly below EMA20 at $268.37 today, which is what we expected based on the historical movements. Pay attention to the bearish volume and MACD as it may signify the start of a new bearish trend. Tomorrow, look for an opening higher than $268. AAPL may retest the $265 price area. If so, then AAPL may retrace to the $240 area.
