Greetings. Is AAPL overbought? Yes. Is AAPL trading two deviations outside the normal trend? Yes. However, my philosophy is to "trade the trend." Don't anticipate the market; instead, participate.
Currently, AAPL hasn't given any signs of slowing down the recent uptrend. In fact, if you look at the Accumulation / Distribution indicators, demand for AAPL is rising rapidly as more and more buyers accumulate shares. This is likely due to the fact that in order to take advantage of the 4:1 split, effective 31 August, investors must acquire AAPL shares not later than 24 August (Monday), and hold them until 28 August (Friday), when the split will take effect after close of business. Therefore, I anticipate a bullish Monday wherein price could reach upwards of $520 / $540 with relative ease.
The directional movement index (DMI) and average direction index (ADX), are both trend strength indicators, and right now, they both scream THE TREND is EXTREMELY BULLISH! In fact, I anticipate a pre-market gap up as more traders have time over the weekend to digest today's bullish move. Fear of missing out and greed are two very powerful motivators for traders. On 31 August, traders may decide to take profits, which means heavy selling....but it's purely speculative at this point. One thing is certain - I'm looking forward to Monday 😎.
Happy Trading!
Currently, AAPL hasn't given any signs of slowing down the recent uptrend. In fact, if you look at the Accumulation / Distribution indicators, demand for AAPL is rising rapidly as more and more buyers accumulate shares. This is likely due to the fact that in order to take advantage of the 4:1 split, effective 31 August, investors must acquire AAPL shares not later than 24 August (Monday), and hold them until 28 August (Friday), when the split will take effect after close of business. Therefore, I anticipate a bullish Monday wherein price could reach upwards of $520 / $540 with relative ease.
The directional movement index (DMI) and average direction index (ADX), are both trend strength indicators, and right now, they both scream THE TREND is EXTREMELY BULLISH! In fact, I anticipate a pre-market gap up as more traders have time over the weekend to digest today's bullish move. Fear of missing out and greed are two very powerful motivators for traders. On 31 August, traders may decide to take profits, which means heavy selling....but it's purely speculative at this point. One thing is certain - I'm looking forward to Monday 😎.
Happy Trading!
Trade active:
BTO: 9/18 AAPL $500 C
Trade closed: target reached:
AAPL has hit this target already at $130. The stock split 4:1 ($520/4 = $130), but TV doesn't update the value on the ideas.
