General explanation:
- I have shorted the NASDAQ:AAPL yesterday
- Textbook perfect short, stage 3 topping
- It is forming a ledge and rolling over
Beware:
- AAPL can easily come back and be supported by institutions (e.g. move to the 200D SMA and still be shortable)
Some nuances:
- On the week of the 18MAR it couldnt even come to the 10WK MA and rolled...
Our job as traders is not to predict. It is not to guess. Our job is to INTERPRET the market action.
Apple, at least in my opinion, is showing very obvious signs that the party is over and institutions are dumping the stock.
Here is my quick 10-minute analysis of why AAPL is a short here, along with a simple option trade and how you can spot similar setups in the future.