Clear and Simple!
Cup and Handle pattern spotted on a Daily chart. We place a stop buy order slightly above the upper trendline of the handle.
Always keep in mind that it is a game of probabilities.
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Given the negative news and the virus situation in the US, which is good news for Apple stocks, and technically well positioned, the best profit can be made.
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On the daily you can see the latest ascending trendline has been respected for a third time, candlesticks are also become quite stagnant. After have a big % drop I can see room for it to move up in the market!
AAPL has rallied from its recent low. At one point, the price was down to 256! But it hasn't been able to extend the rally up to the last price recorded in its uptrend - 327 on 12th February. The reaction from that high pushed it into a downtrend starting with a price of 298 on 24th Feb. So the question is will the rally push on up to resume the uptrend, or...
Don't be caught off guide! Apple stock is now on extreme optimism and with bears pressure at its current price, the stock price is most likely to revert to its mean or begins a downward trend.
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your Trades
There is no sign of the bullish trend will stop here, but there are some intreresting level you want to bet on.
I will definitely load some shorts at 1.618 area if we can go that high, to reduce my portfolio overall risk.
Beta-R:Journal. Risk Management: Compound .Level : PA . Time: Short-term - Intermediate . This is just my view follow if it aligns with yours. Ideas are not repeated rather updated.Worry about risk only.
consolidating for a while in a symmetrical triangle -which is a continuation pattern- we just just broke on the upside, potential long with taking profits on squares marked by the resistance looking left at 221.8 high , and the first fibo extension at 229 -fibo taken from the 221.8 high to 192.753 low - which coincides with historical resistance from September 2018