Apple has been consolidating around 120 area. However it still have not got a good momentum. As per my past experience with apple, apple is really unpredictable it can rise when market is falling or vice versa, the reason being it is being traded extensively. Apple divergence on indicator is increasing, it is now apparent in 3 hour and 4 hour chart. However it has also formed a hammer on increased volume which can indicate reversal or short covering or a bearish trend. If we look all the 4 things together and apply knowledge of Bollinger band then we will see that it increased volume was not associated with increased volatility since Bollinger band are very narrow.
This means that short covering was done and no extensive new buying of shares was done that is why volatility is low.
Also the price is moving near to 20 day average on Bollinger band the middle line. Overall it is more bullish. I believe apple will be waking up quickly and usually when it runs it give 7- 8 percent return in a single bull run . Indicator show divergence .
I think usually on these days the best strategy will be a put credit near support or an iron condor will also be good. Also for long term investor this is the time to do the home run
Ideas here are for knowledge and entertainment. Do trading at your own risk
This means that short covering was done and no extensive new buying of shares was done that is why volatility is low.
Also the price is moving near to 20 day average on Bollinger band the middle line. Overall it is more bullish. I believe apple will be waking up quickly and usually when it runs it give 7- 8 percent return in a single bull run . Indicator show divergence .
I think usually on these days the best strategy will be a put credit near support or an iron condor will also be good. Also for long term investor this is the time to do the home run
Ideas here are for knowledge and entertainment. Do trading at your own risk