pipinsight

Buy Apple

Long
NASDAQ:AAPL   Apple Inc
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1
Apple is on the up and up by general consensus. New iPhone 8 is due for release the end of this year (latest: Nov'17). Shares will increase for a month after whilst analysts wait for first month sales results. If sales targets are missed, it may mean a start of the downtrend, or if targets exceed expectations, a break of the trend, followed by a possible retouch and then up-up and away (buy on the break as it may not retouch as Apple is a strong company).

It is also a 3rd touch on the trend which is a magic number.

Upcoming is a psychological number of $150 which could see a slight price retrace but I'm not expecting much. There is a daily Pivot Point at $151.45 as well as a Fib line $151.43, which will probably see the retrace to $150.

Happy trading!

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Also just noticed on the hourly timeframe, we were in a symmetric triangle which has broken out and heading for a base distance of $151.33 - 229 pips. Although RSI is near oversold, it still has some space above to go up. Expecting a retrace at the 151.33 if the RSI doesn't get relief before the 151.33 target..
+1 Reply
See related chart for shorter timeframe
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alevol pipinsight
@ccsalway, Good
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