andrewunknown

AAPL: Potential Adam-Adam Double Bottom Points to $540

BATS:AAPL   APPLE INC
183 0 0
Sometimes the trade everyone is watching is exactly what happens. A much-anticipated momentum break on AAPL             above $470 would activate the April-June Double Bottom, projecting a measured move to $540.

Healthy skepticism says the move may result in failure.

Or it may be the fat pitch invitation establishing H1 2013's 380-460 range as a credible bottom that interested parties are waiting for before (re-)committing long.

Either way, $470 provides an excellent level against which to plan a high-R position trade, whether long or short. Those caught wrong-footed will be proven so and can choose to adapt quickly.
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