AAPL demonstrates increased volatility and a general downtrend from $172
in a megaphone-type pattern in retracing the recent uptrend.
I see a swing SHORT setup with a target the mid-Ficonnaci levels
in tiered partial position closures.
The general market downturn will lend more directional momentum.
AAPD, a bear ETF tracking AAPL is another consideration.
The price is close to a strong resistance level of 177 in line with the 61.8% Fibonacci retracement. The price could rebound to the 150 level in line with the 61.8% Fibonacci retracement and the 78.6% Fibonacci expected. Our bias is downside, supported by stochastic, as it is located at the support level.
AAPL sank premarket on actual facts from Credit Suisse. iPhone sales down over 30% in November. www.streetinsider.com(AAPL)+China+iPhone+Shipments+in+Nov+Declined+Sharply+-+Credit+Suisse/16236895.html
Then fake news from Trump tweet with no concrete material erases the factual data loss.
Bad news - We are getting screwed for theta time premium in options
Good...
Based on the Daily trend with AAPL, and the high correlation with SPY, I see us taking our trip down before year end.
The moving average is too close to price with AAPL.
The blue resistance line is multi-year (forming in 1998 see Outter Space Chart) and I don't see price going beyond blue resistance by more than $10.
By next week the 10WeekMA will be around $263....
$aapl is prone to red 8 and i expect to see price decrease in DEC.
Strategy is simple - buying in very slowly. For now small position. Monday will tell.
THIS IS NOT A TRADING ADVICE.
AAPL on Weekly view confirms downtrend is just starting.
We have hit the blue log resistance line (from Outter Space AAPL chart) and rejected. We saw this coming, so this is good.
Based on current price trends I am currently in December Puts, looking at the April 2020 puts later.
Good-
We have broken white trend line and are at the top of the rejection. We...
