StealthTrader

Price At Key Pivot Range: Bull / Bear Swing Setup

NASDAQ:AAPL   APPLE INC
1991 23 9
(Background) Since Apple             has feel from grace many people have lost a great deal of money trying to catch this massive falling knife it has literally destroyed thousands of Irresponsible hedge funds and and individual investors and traders a like.

(Summary) This chart is highlighting the current distribution channel that APPL             has carved out the last few months and pointing out some key pivot areas and price behaviors to watch to better navigate the trading flow of AAPL's price movement .

1.) Distribution Channel - This is most important aspect of this chart until price is able to break and hold above this channel price is technically still in a downtrend. This channel has stopped every recent rally in its tracks a break and hold above this channel especially on high volume may be the first clue that distribution may be ending in AAPL             .

2.) 100 EMA - This is another important element of this chart. AAPL             has not been able trade above this moving average all year if price is able to reclaim the 100 EMA this may further confirm that distribution has ended in AAPL             .

3.) Targets on Bullish Break Out - I have highlighted a few possible targets / resistance zones for the scenario of a bullish breakout highlighted with the (yellow) and (orange) dotted lines. I have also listed several pivot highs that may also act as resistance zones.

4.) 200 MA - The 200 MA is naturally huge psychological area as well I have highlighted this on the chart as well as it may also act as type of price magnet if price is able to successfully break this downtrend. ( A break and hold above the 200 MA would be further confirmation distribution has ended in AAPL             ).

5.) Head Fake - Every once in awhile price may trade above a major resistance area only to sell off this is where the importance of volume usually comes in play if there is a large volume spike it usually adds to the validity of the move.

6.) Pullback - Most of this trade summary has been oriented around a bullish argument but as a trader I must view a trade setup from multiple angles if AAPL             is unable to breakout of this distribution channel it is technically still in a downtrend and probability favors a short trade. This is why gauging price action the next few days will be important.
StealthTrader
3 years ago
Please View In Full Screen For Best Picture
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StealthTrader
3 years ago
Extra: From my experience it is always a in good practice to take to recent pivot lows a draw a a trend line and move that trend line to last relevant pivot high as I have done here to forecast possible resistance zones.
Future Price Projection
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StealthTrader StealthTrader
3 years ago
200 MA and This Channel Projection Pivot May Put Up a Fight Once Over Please continue using provided pivots on chart great trade thus far lets see what this stock can do :)
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sublimares2
3 years ago
This is how I see the trend channel
snapshot
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StealthTrader sublimares2
3 years ago
Nice, it's amazing how there are a thousands ways to view a chart and it seems we are looking at some of the same major pivots.
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StealthTrader
3 years ago
At key pivot.
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StealthTrader StealthTrader
3 years ago
Bullish upside break next couple days of price action will be important.
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StealthTrader
3 years ago
Pivot 1 Hit
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Leclaireur
3 years ago
Channel broken, congrats
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StealthTrader Leclaireur
3 years ago
Thanks
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StealthTrader
3 years ago
Second Pivot Hit
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StealthTrader StealthTrader
3 years ago
Price approaching next pivot and 200MA and secondary chart upper channel resistance targets.
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StealthTrader
3 years ago
Congrats on everyone who took this trade with me I cut 1/4 of my position but still very bullish and buying the dips as daytrades.
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StealthTrader
3 years ago
Beautiful Trade At The Right Place At The Right Time. If you took this trade with me congratulations.
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Bullseye !
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StealthTrader QuantitativeExhaustion
3 years ago
Thanks
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StealthTrader
3 years ago
Anything from here on up is a free ride 515 Resistance followed by 520 iphone announcement in September will be interesting going forward to see if aapl can provide the innovation investors want to see.
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