There should be a lot of eyes on AAPL this week after the last week's big move. Many calling it the easiest trade of the year. I'm not sure about it being an easy trade, but I would expect an eventual push to put it in the 3 trillion dollar club. Usually when a big psychological level is close it often acts as a magnet for price and becomes a self fulfilling prophesy. Price has already made a significant move so my preferred entry would be from the green box. I will be looking for pull back entry into that zone with the longer term target being 200. An aggressive entry could also be made on a break of last weeks high targeting the 2.24 fib extension. If price falls back below the green box I am no longer interested. I will update this chart at it plays out.
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Is trading 2$ higher in the premarket touching the 2.24 fib already. Not planning to chase it higher at this point. I will wait for some consolidation before any entry.
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This why I respected the 2.24 fib extension.
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Pulling back to the green box now. Would prefer an entry closer to the trendline at the bottom of the box. Need to watch the broader market b/c if the NAS sells off hard price many drop right through the green box. Growth still getting hit hard and names like AAPL and NVDA are now getting taking down with small and midcaps too so best to respect the sentiment.
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Now inside the green box. Still watching for a reversal at the trendline. Broader market very weak. Looking for a short term bounce play only.
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Didn't get the deeper pull back I was looking for but there were a few long entries coming out of the green box for a trade up to the ATH. I would be looking for the fib extension as the next upside target. AAPL hit 3T market cap about 182 so I would expect a move to at least that level now. Longer term 200 is in play.
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Targets on ATH break. Fib extensions.
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Failed breakout today and closed 2% down. Out of trade for now.
