AAPL: Building a Base at 238 – Swing & Scalp Setups for Sept 17 1-Hour Chart Technical View
Apple’s 1-hour chart shows a constructive rebound from the early September selloff. After reclaiming the $236.7–$238.2 zone, price is consolidating beneath $241.3. MACD has eased back toward neutral and Stoch RSI is mid-range, indicating digestion after the recent pop.
* Immediate Support: $237.9–$238.2 (short-term breakout retest)
* Major Support: $236.7 (trend-defining pivot)
* Upside Zone: $241.3–$243.8 is the next key resistance band; a breakout above could open $245–$250
9 EMA remains above the 21 EMA, keeping the micro-trend bullish as long as $236.7 holds.
GEX & Options Flow
Options positioning supports the idea of a slow upward bias:
* Call Walls: $241.3 (highest positive NET GEX / call resistance), $242.5, and $245.
* Put Support: $217.5 is the main deep downside hedge.
* GEX Bias: Modest call concentration at ~6.7% with IVR ~14 (IVx ~26.5), showing lower option demand and relatively quiet volatility pricing.
This suggests market makers are not pricing in a major move but will likely support dips near $236–$238.
Trade Thoughts & Suggestions
* Swing Idea: Enter on dips into $238 with a stop below $236.5, aiming for $241.3–$243.8 and possibly $245–$250 if momentum improves.
* Scalp Idea: Buy quick pullbacks to $238 or play a clean breakout above $241.3 with volume confirmation.
* Bearish Scenario: A decisive break under $236.5 could test $232 and lower.
Quick Take
AAPL is building a steady base just under $241. For Sept 17, holding $238 keeps the bull case intact with $241–$245 as the upside zone to watch.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage risk before trading.
