AAPL : Day Trading Plan for Monday Dec. 16th.2012

I'm off tomorrow, so will do a little bit of day trading on AAPL . Here 's my plan :

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

Algokid :)

P.S. I know the chart is "busy" , sorry about that.


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