Short-Term Analysis and Trading Recommendations for the short term investors on Apple Inc.-AAPL( In case of trading above the 61.8%).
The short term trend is in an Uptrend technically indicated by following:
• Dow pattern- higher tops and higher bottoms
• Price is currently trading above the valid uptrend line.
The uptrend is confirmed by the bullish cross of MA10 above MA20.
Prices are trading above the support level at 124.46 and below the 61.8% Fib retracement level.
Therefore, I will recommend LONG POSITIONS for the no position holders on Apple Inc. Take profit at 140.90 the 161.8% Fib extension level. Stop loss should be a bit below the support level-S1, thus the stop loss is at 124.00.
For LONG-holders I will recommend to HOLD their long positions and adopt the same stop loss and take profit orders as mentioned above.
For the short-position holders I will recommend them to CLOSE SHORT POSITIONS AND GO LONG (since they are trading against the short-term trend) and adopt the same limit and stop orders as mentioned above.
This strategy aims for yield-to-risk ratio of 2.38x which is good for money management purposes.
The short term trend is in an Uptrend technically indicated by following:
• Dow pattern- higher tops and higher bottoms
• Price is currently trading above the valid uptrend line.
The uptrend is confirmed by the bullish cross of MA10 above MA20.
Prices are trading above the support level at 124.46 and below the 61.8% Fib retracement level.
Therefore, I will recommend LONG POSITIONS for the no position holders on Apple Inc. Take profit at 140.90 the 161.8% Fib extension level. Stop loss should be a bit below the support level-S1, thus the stop loss is at 124.00.
For LONG-holders I will recommend to HOLD their long positions and adopt the same stop loss and take profit orders as mentioned above.
For the short-position holders I will recommend them to CLOSE SHORT POSITIONS AND GO LONG (since they are trading against the short-term trend) and adopt the same limit and stop orders as mentioned above.
This strategy aims for yield-to-risk ratio of 2.38x which is good for money management purposes.