Trading Strategies Apple (NASDAQ:AAPL)
Based on daily chart, the general outlook for short term AAPL is BEARISH.
1. This is because the price create lower low (L1-L4) and lower high (H1-H3) from first November 2018 until end of December 2018 .
The bearishness evedence can be supported as the price now is below 50-days EMA.
2. However notice that, there is bullish divergence between MACD histogram and the movement of the price plus crossover of stochastic below 80 (oversold area).
This is likelihood to technical rebound supported by Japanese Candlestick shows inverted hammer.
In addition, current price is located at the previous supports ; 22nd Sept 2017 and 9th Jan 2018.
This should has less sufficient selling pressure thus possible buying pressure increase that lead price rebound.
3. For short term trading strategies, trader can enter in LONG position when the price penetrate 10-days EMA and trendline T1.
If not, stand aside!
4. Target Profit for long position strategies is at $164.48.
The target is confluence with Fibonachi Retracement 23.6%. Suggestion stop loss is $154.21 with reward risk ratio 4:1.
Next target profit is $175.36 and suggested protective stop loss to protect profits from losses.
Any comments are most welcome!
Bukhari Razali
Technical Analyst
+6019-523 0131
www.tradingview.com/u/CMBukhari/
#TecnicalReportCMB
Disclaimer: Investments involve risks, including possible loss of principle and other losses. The author has positions in some of these instruments.The author shall not be responsible for any losses or lost profits resulting from investment decisions based on the use of the information contained herein.If investment and other professional advice are required, the services of a licensed professional person should be sought.
Based on daily chart, the general outlook for short term AAPL is BEARISH.
1. This is because the price create lower low (L1-L4) and lower high (H1-H3) from first November 2018 until end of December 2018 .
The bearishness evedence can be supported as the price now is below 50-days EMA.
2. However notice that, there is bullish divergence between MACD histogram and the movement of the price plus crossover of stochastic below 80 (oversold area).
This is likelihood to technical rebound supported by Japanese Candlestick shows inverted hammer.
In addition, current price is located at the previous supports ; 22nd Sept 2017 and 9th Jan 2018.
This should has less sufficient selling pressure thus possible buying pressure increase that lead price rebound.
3. For short term trading strategies, trader can enter in LONG position when the price penetrate 10-days EMA and trendline T1.
If not, stand aside!
4. Target Profit for long position strategies is at $164.48.
The target is confluence with Fibonachi Retracement 23.6%. Suggestion stop loss is $154.21 with reward risk ratio 4:1.
Next target profit is $175.36 and suggested protective stop loss to protect profits from losses.
Any comments are most welcome!
Bukhari Razali
Technical Analyst
+6019-523 0131
www.tradingview.com/u/CMBukhari/
#TecnicalReportCMB
Disclaimer: Investments involve risks, including possible loss of principle and other losses. The author has positions in some of these instruments.The author shall not be responsible for any losses or lost profits resulting from investment decisions based on the use of the information contained herein.If investment and other professional advice are required, the services of a licensed professional person should be sought.