11 Facts and Viewpoints on the AAPL chart.
Traders from around the world, how are you on this fine day? The markets are wild and volatile right now, analysts everywhere are looking for the bearish trades, people are scared (rightfully so) and worried about China and the global debt situation.
The benefit of being a very active trader is that every day and week there are countless opportunities and investments to make with our money. Rather than holding through the treacherous 10-30% swings the market has been making recently we try riding them.
You all know how much I love trading AAPL. Sure, call me a fan boy, but the stock is just so liquid, moves well and has so many opportunities for some Granny Smith Green. I've written many AAPL articles in the past. Here's another one! Enjoy.
AAPL is consolidating on the $95 support priceThis is the same price AAPL bounced before back in August 2015 and October 2014.The 200 simple moving average on a weekly is $91.94
The 100 simple moving average on a weekly is $109.23The two days on AAPL (2/19 and 2/22) experienced an incredibly small range in price movement (or lack there of) showing a potential pop could occurThe 20 exponential moving average on AAPL is $96.62AAPL closed above the 20 and 10 EMA on 2/22/15
The 50 exponential moving average is $100.85 and correlates with a strong resistance price from 1/25/16.Below is my set up on the hourly charts.Buying shares, selling puts, or buying call options are all bullish strategies and ones that could be considered if AAPL pops nicely here.If AAPL gaps above the $97.06 trigger, I'll likely expect and wait for a small pullback, bounce, retest and look to buy it.
Thank you for reading, traders. We post other trade analysis articles pretty often here. Have an incredible rest of your week and month! And until next time, remember, love life, life live and trade it!
*** An update as of market close on 2/23/16. I love it when a trade doesn't trigger. AAPL crushed through the stop price I had drawn, trapping the over zealous bulls. Therefore, AAPL likely continues a tad lower, per this chart and trade set up.
Jerremy Alexander Newsome