AAPL due for correction
Over the past week or so we have seen a parabolic 9% move to the upside in APPLE, the price is currently right at the resistance of an year long channel.
I believe we are due for a correction of 5-10% over the next month or so.
My stop losses would be right around 1$64 with targets in the $140 - 150 zone.
If you look at the hourly chart you will also see a spinning top candle forming at the rightmost end.
If you're risk averse you could even setup a bear call credit spread using 45 DTE options with the following strikes:
-1x 162.5CE
+1x 172.5CE
(Disclaimer: This is not financial advice, please do your own due diligence before implementing any of my ideas).
I believe we are due for a correction of 5-10% over the next month or so.
My stop losses would be right around 1$64 with targets in the $140 - 150 zone.
If you look at the hourly chart you will also see a spinning top candle forming at the rightmost end.
If you're risk averse you could even setup a bear call credit spread using 45 DTE options with the following strikes:
-1x 162.5CE
+1x 172.5CE
(Disclaimer: This is not financial advice, please do your own due diligence before implementing any of my ideas).
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