In terms of a swing trade or investment, I see no opportunity at this moment in AAPL. I am looking to see which way it breaks out of a tight consolidation of the last few days. It is close to overhead supply and I don't see a good risk/reward situation with a breakout to the upside.
Overhead supply around $180.
I can see a better chance going long by buying in demand below for a swing trade or investment. I also think selling puts in the lower demand is a decent bet.
If I wanted to do a scalp trade, I would look for a entry at the low of the last few days and take an entry around $169 and a stop at $167.75 I would only do this as a confirmation trade (meaning it has to dip below $169 without going below $167.75 and then taking a limit order at $169) with a target near the top of the consolidation. $172.75 allows a profit or $3.75 for each $1.25 that is risked.
Overhead supply around $180.
I can see a better chance going long by buying in demand below for a swing trade or investment. I also think selling puts in the lower demand is a decent bet.
If I wanted to do a scalp trade, I would look for a entry at the low of the last few days and take an entry around $169 and a stop at $167.75 I would only do this as a confirmation trade (meaning it has to dip below $169 without going below $167.75 and then taking a limit order at $169) with a target near the top of the consolidation. $172.75 allows a profit or $3.75 for each $1.25 that is risked.