Seeing a possible triple top pattern on apple, this could have me going medium term bearish if it starts to roll over.
Average analyst prediction is around $244 and we are already quite near that although it should be considered a longer term prediction. Therefore it would be fair to expect some consolidation.
Volume doesnt seem to be significant enough to signify a breakthrough of this resistance.
Recent earnings had a negative surprise.
However, there is still a fair chance for it to breakout. Apple is always very consistently bullish, so even with some clear signals I cant be entirely certain.
Buying a small PUT position, could see a false breakout potentially but if it rolls over Ill increase position.
Average analyst prediction is around $244 and we are already quite near that although it should be considered a longer term prediction. Therefore it would be fair to expect some consolidation.
Volume doesnt seem to be significant enough to signify a breakthrough of this resistance.
Recent earnings had a negative surprise.
However, there is still a fair chance for it to breakout. Apple is always very consistently bullish, so even with some clear signals I cant be entirely certain.
Buying a small PUT position, could see a false breakout potentially but if it rolls over Ill increase position.
Trade active
21 Feb 25 Put $230
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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.