Buy the Dip? Hard to Say
Greetings Investors,
I’m slightly neutral/bearish on AAPL, based on the following:
Bullish Factors:
1. AAPL is slightly below the 20/50 EMA, within a larger uptrend. This presents an opportunity to buy low.
2. AAPL has not broken the overall upward trend that began in Nov 2020.
3. AAPL is almost 2STD DEVs from the mean price (red-dotted line) of $137. AAPL is in the very bottom of the channel.
4. AAPL has established support around $126, which coincides with the 50% FIBO level.
5. AAPL may retrace to 100MA ($124) (dark grey line), but remains bullish even if it retraces down to $122 (61% FIBO level).
6. Falling price & falling volume on the weekly candles, indicate bullish pullback.
7. It would be nice to see a small gap up on tomorrow’s candle.
Bearish Factors:
1. Bearish weekly candle
2. Bearish divergence on RSI, MACD, and TTM indicators
3. Usually the longer timeframes give the “big picture,” which is why I’m slightly bearish on AAPL.
Weekly Chart 1 (TTM):
Weekly Chart 2 (MACD):
Weekly Chart 3 (RSI):
Strategy:
1. If you’re bullish, consider the 135C/140C/145C for 19 Mar or 16 Apr.
2. If you’re bearish, consider the 130P/125P/120P for 19 Mar or 16 Apr.
Happy Trading!
Disclaimer. My ideas are for informational purposes only. My ideas do not constitute solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments. You should not construe any such information or other comments as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, options and money market funds involve risk of loss. Loss of principal is possible. Please exercise your own due diligence.
I’m slightly neutral/bearish on AAPL, based on the following:
Bullish Factors:
1. AAPL is slightly below the 20/50 EMA, within a larger uptrend. This presents an opportunity to buy low.
2. AAPL has not broken the overall upward trend that began in Nov 2020.
3. AAPL is almost 2STD DEVs from the mean price (red-dotted line) of $137. AAPL is in the very bottom of the channel.
4. AAPL has established support around $126, which coincides with the 50% FIBO level.
5. AAPL may retrace to 100MA ($124) (dark grey line), but remains bullish even if it retraces down to $122 (61% FIBO level).
6. Falling price & falling volume on the weekly candles, indicate bullish pullback.
7. It would be nice to see a small gap up on tomorrow’s candle.
Bearish Factors:
1. Bearish weekly candle
2. Bearish divergence on RSI, MACD, and TTM indicators
3. Usually the longer timeframes give the “big picture,” which is why I’m slightly bearish on AAPL.
Weekly Chart 1 (TTM):
Weekly Chart 2 (MACD):
Weekly Chart 3 (RSI):
Strategy:
1. If you’re bullish, consider the 135C/140C/145C for 19 Mar or 16 Apr.
2. If you’re bearish, consider the 130P/125P/120P for 19 Mar or 16 Apr.
Happy Trading!
Disclaimer. My ideas are for informational purposes only. My ideas do not constitute solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments. You should not construe any such information or other comments as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, options and money market funds involve risk of loss. Loss of principal is possible. Please exercise your own due diligence.
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