sublimares2
Long

AAPL- consolidating for a move higher

BATS:AAPL   Apple Inc.
1153 14 7
AAPL             - cup with handle pattern- in the consolidation fase. Breakout above the resistance line $511.
Its definitely not a cup and handle. This pattern is called a "Booty Call" named after a nice rounding bottom.
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I agree with Hussain. Cup and handle should be in an up trend as it shakes off weak stock holders and more buying happens in the handle. I do see the pattern here though. I'm bullish on AAPL too, I'm waiting for a breakout. The main reason being the 50 day MA crossing over the 200 day MA recently and I think the two bottoms in April and July formed somewhat of a double bottom. I'll be looking for calls with mid 2014 expiry at $600 strikes.
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This crawl upwards is not doing anything for option traders
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Apple attempting to get back to 2013 highs for a breakeven year. Bullish setup on the handle, looking to breakout.
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in my opinion, cup or not cup price action says it wants more up,. only resisting factor on my charts is RSI trendline on weekly chart acting like current resistance. But it should break it because prices are going to 540 at least, after sublimares target 640, and maybe 700+ area but hard to say until hits 540
snapshot
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Thnx for the chart . may apple go up but it is a wrong pattern because the cup and handle pattern appears in up trned and what u have now is a down trend .
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sublimares2 hussain9
Much appreciate it- can you draw a chart pointing out exactly what are you saying? Ty
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hussain9 PRO sublimares2
u can open this link to c what Im pointing to . http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:cup_with_handle_cont
and already u r coming from a down trend from a price above than 600 . thnx for ur nice answer and at the end u still a an excellent trader .my regards
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sublimares2 hussain9
please do a chart and post it- this is what I am looking for- thank you
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sublimares2 hussain9
snapshot
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