Still leaning towards Apple making another push upwards. Despite dipping below the white support trend line, it keeps finding its way back above it to reclaim. Elliott count in yellow still valid for me as rules are still being obeyed.
Bullish scenario: above the white support line, looks bullish with potential to pop up nicely to the $140s +
-- slightly out...
Recent price action shows that traders are closing their long positions and we have reached a point to think if this is going to accelerate and even if some selling occurs.
The uptrend is intact, still not tested, but we are moving towards the 120 - 123 fractal line - first major support and the demand zone of the trend.
RSI gave the initial warning signal and...
137,20 - 135,50 area looks like a strong resistance level. We can see 2 harmonic patterns. I think 123,77 is a good support level, below this level 115,88 is the next support. Any close above this level will be an indicator for a bullish trend.
Please see AAPL chart posted before this one from few days ago*
Still holding small long position. Things I'm watching to adjust / add to my position:
1. Risky: potential small short scalp trade (I entered buy Jan 15 120 put / sold 117.50 put) for cost of $84; stop loss if break high of day of $124.57)
2. Price is consolidating just below the high of 124.57; if...
-Bullish Trend on the Daily.
-Nearing the previous resistance @124.80-125.00 back from mid October
Short under AAPL breaking and holding under 120.75
PT @118.00-118.25
PT @116.75-117.00
Long over 122.15
PT @124.75-125.00
PT @126.60
AAPL in Nasdaq is going to be bullish due to bullish signs in volume - RSI - ADX - MACD and other classic indicators so we just need a confirmation from crossing the dynamic resistance from the trend
It's time to take a side.
It touched the major trendline and got rejected multiple times and failed to breakout the trendline will lead to go below $100.
We are breaking down AAPl while AAPL breaks down. It followed my prediction of a gap of and retest but was pulled under by $SPY. If we continue downtrend then I would expect to see it reach support by weeks end.
