AAPL Approaching Key Resistance! Trade Setups for Feb. 20
AAPL is consolidating near 245, forming an ascending channel. This suggests continued bullish momentum, but price action near resistance at 247-250 will determine the next move.
📌 Key Support & Resistance Levels:
* Resistance: 247.19 (recent high), 250 (major call wall resistance)
* Support: 241.84, 237.50, 235 (demand zone)
📌 Indicators:
* MACD: Momentum is weak, showing potential consolidation.
* Stoch RSI: Mid-range (48.77), meaning there’s room for both upside and downside.
* Volume Profile: High trading activity around 244-245, meaning price could stall before a breakout attempt.
Gamma Exposure (GEX) & Options Sentiment
🔹 Call Walls (Resistance):
* 250: Highest call resistance—tough breakout without volume.
* 255: Another major call resistance if 250 breaks.
🔹 Put Walls (Support):
* 235: Strong put support—buyers likely step in here.
* 225-220: If selling pressure increases, these are downside targets.
🔹 Options Sentiment:
* IVR: 22.6 (low implied volatility—potential for a move).
* Call Open Interest: 1.7% – Extremely low, indicating a lack of bullish option positioning.
Trade Scenarios for Tomorrow
✅ Bullish Setup:
* If AAPL breaks 247-250, expect a move toward 255.
* Ideal entry: Above 245, stop-loss below 243.
* Profit targets: 247, 250, 255 (extension).
❌ Bearish Setup:
* If AAPL fails at 247 and breaks below 244, expect a move toward 241-237.
* Ideal entry: Below 244, stop-loss above 246.
* Profit targets: 241, 237, 235.
Probability Estimate for AAPL’s Next Move: Bullish Move Above 247 (Targets 250-255)
Scenario Probability (%): 50%
Reasoning: AAPL is in an ascending channel, meaning bulls are still in control.
• Needs volume for a breakout above 247-250. | | Choppy/Sideways (Range 241-247) | 35% | - Volume profile shows heavy activity around 244-245, meaning price could stall here.
* MACD shows low momentum, suggesting possible consolidation. | | Bearish Breakdown Below 244 (Targets 241-235) | 15% | - Lack of call positioning and weak IVR suggests a potential fade.
* If selling pressure picks up, expect downside toward 237-235. |
Final Thoughts
* AAPL needs to break 247-250 for further upside.
* Failure to hold 244-245 could bring selling pressure toward 241-237.
* Low IVR means options are cheap, but also suggests low volatility.
🔹 Best Trading Plan:
* Bullish Play: Look for a breakout above 247 → target 250-255.
* Bearish Play: Watch for rejection at 247 or a break below 244 → target 241-235.
🚨 Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always conduct your own research and trade with proper risk management.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.