MaxxPayme

Possible contrary short set up for AAPL

NASDAQ:AAPL   APPLE INC
378 4 3
Today's price action took AAPL             up to confluence of 50% fork resistance, prior pivot from April 2012 of $644 as well as TL extension backtest. Counter trend traders could look to short this area with a stop on a close above $645.
Vince PRO
2 years ago
I like your analysis, been to Tim Morge training on pitchforks, did not follow him much I am a bit slow and dyslexic. I do think however that AAPL has some potential with the developers conference, although the past has shown it trades down from there, they also have some potential per their Sr VP that they have the "BEST" product cycle in pipeline in 25 years- that is saying A LOT. Also a 7:1 split on a cheap stock like AAPL is a momentum play. If the NAZ helps I think they could have a 20-30 point week next week up..however if they fizzle on the conference who knows. I said it would run from the 590s to the 650 area which was close today and very profitable on options...so will see how pitch works...I am thinking we could get a run into Friday and then if sell off it will most likely dip on Monday following split, if runs hard into split will pop on June 9th early I think. Anyway I am working on trading what is..not what I think LOL cheers mate
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MaxxPayme PRO Vince
2 years ago
Thanks for your comment! Good luck to you, no position myself but this chart has been an interesting one to follow. I had been waiting to see if they could run it to $666 but this area could work for a short since the R/R is decent and you would know if you were wrong fairly quickly.
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AlexandreFF
2 years ago
Simple and clear chart on AMZN.
Nice chart, I arrived at the same conclusion you did but at different price zones
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AlexandreFF AlexandreFF
2 years ago
Oops wrong chart
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