RANGE : 505.50 - 518.00
NO TRADE ZONE : 508 - 510.25
Long trades :
Entry 1 --> Long @ 510.30 with a target @ 512.50. hard stop @ 509.25
Entry 2 --> Long @ 514.25 with a target @ 517.00. hard stop @ 512.95-513.00
Short trades :
Entry -->short @ 506.90 with target 505.57. hard stop @ 507.90
Different scenarios may occur tomorrow morning. CITI and MORGAN STANLEY analysts just took opposite position on AAPL . CITI is Neutral AAPL as it beleive the demand for the iphone 5 is not that great. Meanwhile MORGAN STANLEY say the demand for the same phone is off the chart. So are you siding with ?
The stock has been battered all last week. I expected the support around 505.50 -505.90 to be tested during pre -market trading or morning session of trading, then the bulls will come and test the resistance around 518. But hey, I don't have a crystal ball and may be wrong. Anyway, that 's my plan for tomorrow. See you then and good trading
P.S. I know the chart is "busy" , sorry about that.