thebrewer35

AAPL - Do patterns repeat themselves?

Long
NASDAQ:AAPL   Apple Inc
Originally published by @NZ_Shareman

Watching to see if the pattern of AAPL repeats itself from 2008. This year we have been on a roller coaster of volatility , smashing through 5 years of the 2008 Crash Recovery pattern price action in 8 months.

This follows EWF ( Elliott Wave Forecast), that we will be moving to higher highs before turning down to fill the gap.

Active Trade: AAPL $140c 12/18 @ $1.15 - $1.26
Exit: Ideally before earnings on 10/29.

This is not financial advice, just an idea.
Comment: If the bottom is set at $114.28, then (1)-(2) up from the 9/21 lows measures 138.50 to 153.47 for wave (3) in AAPL.
Comment: Historically, the low hits on the last Monday in October before elections. Right on track for AAPL.

Comments

If it does repeat it would reach 135 $ after the ER and even after the Election.
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thebrewer35 UnknownUnicorn12300131
@UnknownUnicorn12300131, I am looking to exit at 132 before earnings unless there are no sell indicators. On election day if you zoom in, the candlestick drops to $130 before turning higher.
Reply
@thebrewer35, but why exit if it is going up over 150 $ ?
Reply
thebrewer35 UnknownUnicorn12300131
@UnknownUnicorn12300131, theta decay on options. As time passes and it corrects a little or goes sideways it is better to sell and buy back because it eats away at the premium. I also prefer to lock in profits, and re-enter on those dips. If I miss them and it keeps running that's okay too. I just find another stock to buy.
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