I love AAPL. Many of us do. Been a while since I posted a chart reading for AAPL .. maybe since the split ?
here's a quick chart reading for AAPL using the 1wk view (apologies for the crowded chart - i wanted to show all recent price channels as well as the target zones)
* A new price channel is forming. that's initially a good sign. * If that channel remains valid, it may help AAPL breach the supply zone ($135 - $140) -- we can see that previous attempts to move into that zone was met by strong supply
* the momentum is moving in the bull direction (UTO) - and according to v.viewer, the supply is fading.
Bottom line: ============= * we're currently into a possible "buy zone" -- it seems that this is *the* dip ??
* possible upside of 10% to 15% as marked by the channel and the target zones - around 22% if we hit target #2
(Please Note: these chart readings are not trade recommendations - they are just attempts to read & analyze the chart and the indicators, and expect possible scenarios that may or may not pan out)
Nice work My focus is to continue to sell covered calls until AAPL returns to $135
RedKTrader
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@frhman, thank for your feedback. that's a good strategy, just sell the CC near the tops and before a move down is expected.. that would be most rewarding