Hello fellow traders,
This is a technical analysis of Apple Inc. (AAPL) on the 15-minute chart.
As we can see from the price action, AAPL has recently broken through a key horizontal resistance level at approximately $255.42. Following the breakout, the price is now consolidating above this level, which is a classic sign of a potential resistance-turned-support retest.
This "breakout and retest" is a common bullish pattern that could signal further upward movement. Based on the long position tool drawn on the chart, here is a potential trade setup:
Entry: Around the new support level of $255.42.
Stop Loss: A stop loss could be placed at $246.07, below the recent price structure, to manage potential downside risk if the support level fails to hold.
Take Profit: The potential target for this trade is set at $276.71.
This setup provides a risk-to-reward ratio of approximately 2.28 to 1.
Disclaimer: This is for educational purposes only and represents a technical viewpoint. It is not financial advice. Please do your own research and manage your risk appropriately before entering any trade.
This is a technical analysis of Apple Inc. (AAPL) on the 15-minute chart.
As we can see from the price action, AAPL has recently broken through a key horizontal resistance level at approximately $255.42. Following the breakout, the price is now consolidating above this level, which is a classic sign of a potential resistance-turned-support retest.
This "breakout and retest" is a common bullish pattern that could signal further upward movement. Based on the long position tool drawn on the chart, here is a potential trade setup:
Entry: Around the new support level of $255.42.
Stop Loss: A stop loss could be placed at $246.07, below the recent price structure, to manage potential downside risk if the support level fails to hold.
Take Profit: The potential target for this trade is set at $276.71.
This setup provides a risk-to-reward ratio of approximately 2.28 to 1.
Disclaimer: This is for educational purposes only and represents a technical viewpoint. It is not financial advice. Please do your own research and manage your risk appropriately before entering any trade.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.