APPLE Short Position
Based on swing high and low patterns since the start of the year there is a clear bearish trend. With
highs of $183 on the 04/01/22 and lows of $129 on 16/07/22, the underlying price of AAPL has
gradually decreased. The blue lines present the swing highs and lows since the start of the year,
presenting this downward and bearish trend.
Using a 20-day Fibonacci retracement, the data shows a support level of $123 and a resistance equal
to $151. On 06/07/22, the underlying stock price closed closer to the Fibonacci resistance level at a
price of $143. This is a bareish signal, it is reasonable to assume that the price of the stock will
correct closer to its support.
We have also included a 20-day ranged Bollinger Band using averages based off standard deviation.
The Bollinger band has an upper bound level equal to $129 and a lower bound level equal to $148.
Because the stock price is currently valued at $145 the price is closer to the Bollinger’s upper bound.
This is a bareish sentiment also supported by the swing low and high patterns since the start of the
year and the Fibonacci. We anticipate the stock’s price to decrease and a correction towards the
Bollinger’s lower bound.
Therefore, the target is the Bollinger’s lower bound, a price of $129. The Bollinger bands upper and
lower bound and have less range in comparison to the Fibonacci. Once the price hits this target the
buyer should sell.
highs of $183 on the 04/01/22 and lows of $129 on 16/07/22, the underlying price of AAPL has
gradually decreased. The blue lines present the swing highs and lows since the start of the year,
presenting this downward and bearish trend.
Using a 20-day Fibonacci retracement, the data shows a support level of $123 and a resistance equal
to $151. On 06/07/22, the underlying stock price closed closer to the Fibonacci resistance level at a
price of $143. This is a bareish signal, it is reasonable to assume that the price of the stock will
correct closer to its support.
We have also included a 20-day ranged Bollinger Band using averages based off standard deviation.
The Bollinger band has an upper bound level equal to $129 and a lower bound level equal to $148.
Because the stock price is currently valued at $145 the price is closer to the Bollinger’s upper bound.
This is a bareish sentiment also supported by the swing low and high patterns since the start of the
year and the Fibonacci. We anticipate the stock’s price to decrease and a correction towards the
Bollinger’s lower bound.
Therefore, the target is the Bollinger’s lower bound, a price of $129. The Bollinger bands upper and
lower bound and have less range in comparison to the Fibonacci. Once the price hits this target the
buyer should sell.
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