Possible long/medium term top in Apple

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Apple             closed lower today on a positive earnings report and has made a bearish engulfing candlestick pattern in the process. There is an RSI divergence present and optimism in general for the stock and its future. This all points to at least a medium term top.

I suggest going short with a stop on a daily close above today’s high and with a target of about 20%-30% lower from where the price is now.

Whoever chooses to go with the trade good luck.

This is not investment advice and you are solely responsible for your actions. For a full disclaimer see here: http://www.highprotrading.com/disclaimer/

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Perfect hit once again!
I hate to tell you this but didn't the exact same scenario play out before the last earnings but it went up from $116 to $133?
Yes, but that doesn't mean the same scenario is going to play out this time, it may or it may not. You have your stop and your target, if the market goes in your favor take profits at the target and if it doesn't respect your stop.
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