Boy don't I wish I had shorted AAPL on the throw over of the ascending wedge. It has re-entered the wedge, but seems likely to fall through now. Watching for a break of the lower trend line. May then bounce back up to lower trend line which would then serve as resistance. If fails to break this resistance, lower targets come into play!
Posting so I can follow long term. More of an update to an idea from April 2018 (linked below).
Posting so I can follow long term. More of an update to an idea from April 2018 (linked below).
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Coming along nicely. Looking for a sight bounce as we test the lower trend line. Bulls will try to keep this in the wedge most likely.
Still, seems AAPL is headed to the region previously predicted at some point. If AAPL bounces off the trend line, but then falls through on a subsequent test that might be a good time to get short again. Now is probably a safe time to close out a profitable short position (especially if it is leveraged or if it is via options).
Still, seems AAPL is headed to the region previously predicted at some point. If AAPL bounces off the trend line, but then falls through on a subsequent test that might be a good time to get short again. Now is probably a safe time to close out a profitable short position (especially if it is leveraged or if it is via options).
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If AAPL does break the lower trend line, I would wait for confirmation (a set percentage break or at least a few days below the line) before getting short otherwise as shown in one possible scenario above, AAPL could reclaim the wedge before its eventual fall. I still would expect that if AAPL does break the lower trend line with conviction, we should still anticipate at least some kind of a move back up to try to re-test it even if that fall short.
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Hard to follow the plan much better than the latest prediction. Got our move up, then down, now backup. Hard to know to what extent the current move up will be, but I still believe AAPL ends up breaking back out of the wedge and heads below 130's.
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Still on the predicted path.
I could see AAPL rebound as high as ~200 before the next leg down, but it remains at serious risk of resuming the fall at the 38.2 or 50% retracements too.
Crazy market eh: Jan 2 AAPL trades around $159. Anounce earnings will miss and come in around $84 billion instead of the previous guidance of $89-93 billion (a miss of 7 billion off prev. guidance).
Jan 29: Earnings announced $84.3 billion (big surprise right, as if we did not know this 4 weeks ago). Stock trades goes up $10 and trades $165 next day, Jan 30.
I'm standing by my chart and believe we are just in the midst of a bull trap bounce. Will keep updating till AAPL hits a new all time high or till the 90-130 range is hit as expected in the next couple years. I'm not shorting AAPL now, but will look to do so via options if it gets to $200 again.
I could see AAPL rebound as high as ~200 before the next leg down, but it remains at serious risk of resuming the fall at the 38.2 or 50% retracements too.
Crazy market eh: Jan 2 AAPL trades around $159. Anounce earnings will miss and come in around $84 billion instead of the previous guidance of $89-93 billion (a miss of 7 billion off prev. guidance).
Jan 29: Earnings announced $84.3 billion (big surprise right, as if we did not know this 4 weeks ago). Stock trades goes up $10 and trades $165 next day, Jan 30.
I'm standing by my chart and believe we are just in the midst of a bull trap bounce. Will keep updating till AAPL hits a new all time high or till the 90-130 range is hit as expected in the next couple years. I'm not shorting AAPL now, but will look to do so via options if it gets to $200 again.
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Getting oh so close to that $200 target I pointed out a couple months ago. Keep pushing this bulls. Just a few more dollars.
