Given so many names went down with the market and the direction $AAPL seems to be going, could this be the next?
All indicators I like to use are pointing downward. It also broke back below the resistance it broke above recently.
I am always somewhat scared to trade PUT since it is not natural for me.
Yesterday when the market went down upon open, I cut loss on $MO 1019C62 call (0.5 from 0.83) thinking without checking it will also drop with the market. It actually went up pretty well and closed at my original entry price. Today 10/5 it is still relatively strong.
Lesson is do not trade based I what I think - trade the charts and trends.
$COST 5 sma crossed up 10 sma on daily, about to also cross up 20 sma 236.45 on daily.
MACD, Stoch and RSI all pointing upward /crossed.
Overall trend is up. Recent consolidation on both daily and weekly look great.
Let us see.
$IONS is in distribution within a range. Not it is falling across middle BB. Given recent price pattern /movement, it is very likely to continue the drop to 100 sma on daily or 20 sma on weekly (around $46.3).
The 200 sma does not seem to interfere with price actions much.