AAPL: Potential downside consolidation for end of year
It has been a great run for the entire market and everyone's favorite tech giant. But as we approach year end, I see potential consolidation and downside support test to the Fib 100% zone. This also goes hand in hand with my thesis for the market to take a breather and even breakdown from the weekly wedge.
Particularly, my target is for AAPL to hit 244-245 level before end of year. I am looking to take December/January 245P calendar spreads to trade this move, as we may need time and to minimize risk if we see a breakout above the 127% Fib level.
Particularly, my target is for AAPL to hit 244-245 level before end of year. I am looking to take December/January 245P calendar spreads to trade this move, as we may need time and to minimize risk if we see a breakout above the 127% Fib level.