AAPL- Earnings Play | Update
Updated
Fundamental Rationale-
AAPL catching my eye here, by no means is this a short-term play. 9 times out of 10 AAPL is a classic case of "buy the hype, sell the news" when it comes to earnings. Will have a solid run-up to earnings and sell-off after as everything will already be priced in, will be playing AAPL's run-up to earnings with one of the two plays annotated on the chart (See Green Box). On a slightly different note, big symmetrical triangle here on the daily timeframe on AAPL and is sitting right on its 20-day SMA (Not Pictured). Given the markets are all at or near all-time highs and in my opinion, are very overextended. That being said will be expecting a retracement back down to the 50-day EMA. Regardless, bullish and will be looking for a breakout from this triangle- Keep in mind this is a long-term play, just some support and resistance levels to keep an eye on along with some RSI-based supply and demand zones to keep an eye on in the meantime-
** 4-Hour & Previous Charts Attached Below **
Technical Rationale-
- EMA's starting to curl upwards
- 20-day & 50-day SMA golden cross (Not Pictured)
- Falling wedge on the 4-hour timeframe (See Attached Chart)
- Bollinger Bands Squeezing on the Weekly Timeframe
- Slight bullish hidden divergence on the RSI
PT1- $152.28
PT2- $154.50
PT3- $157.30
PT4- $160+ New ATH's
4-Hour
https://www.tradingview.com/i/h0RlwY9v/
Previously Charted
https://www.tradingview.com/i/hs2n8Azf/
https://www.tradingview.com/i/Vw9h3uBQ/
AAPL catching my eye here, by no means is this a short-term play. 9 times out of 10 AAPL is a classic case of "buy the hype, sell the news" when it comes to earnings. Will have a solid run-up to earnings and sell-off after as everything will already be priced in, will be playing AAPL's run-up to earnings with one of the two plays annotated on the chart (See Green Box). On a slightly different note, big symmetrical triangle here on the daily timeframe on AAPL and is sitting right on its 20-day SMA (Not Pictured). Given the markets are all at or near all-time highs and in my opinion, are very overextended. That being said will be expecting a retracement back down to the 50-day EMA. Regardless, bullish and will be looking for a breakout from this triangle- Keep in mind this is a long-term play, just some support and resistance levels to keep an eye on along with some RSI-based supply and demand zones to keep an eye on in the meantime-
** 4-Hour & Previous Charts Attached Below **
Technical Rationale-
- EMA's starting to curl upwards
- 20-day & 50-day SMA golden cross (Not Pictured)
- Falling wedge on the 4-hour timeframe (See Attached Chart)
- Bollinger Bands Squeezing on the Weekly Timeframe
- Slight bullish hidden divergence on the RSI
PT1- $152.28
PT2- $154.50
PT3- $157.30
PT4- $160+ New ATH's
4-Hour
https://www.tradingview.com/i/h0RlwY9v/
Previously Charted
https://www.tradingview.com/i/hs2n8Azf/
https://www.tradingview.com/i/Vw9h3uBQ/
Note
Trade closed manually
All Price Targets Reached - Will re-enter calls on a pullback
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