AAPL: Price projection update
is it strange that i should feel happy that my previous projection was bull's-eye accurate, but i'm not? (see linked post from few weeks ago) - we even hit that projection a week earlier.
(my projection was based on historic behavior of the AAPL stock in a down markets or in response to negative news in the past)
Today on the weekly chart, AAPL is sill showing a backdrop of bullishness (the green background on my lower BoP indicator), but on the daily chart, this has completely been depleted as seen here on this chart.
now if we cross below the $270 level, i will buy ATM PUTs 2 or 3 months out - and in that case, i would be looking at the $215-$220 as a new "worst case" - and that would be almost 33% off the all time high price - and given the ambiguity of the economic situation, and the bad earnings call expected in April, that even may not be the worst we get. i will update projection further once there's some enough patterns & price structure to make the calculations - which is very difficult for now.
(my projection was based on historic behavior of the AAPL stock in a down markets or in response to negative news in the past)
Today on the weekly chart, AAPL is sill showing a backdrop of bullishness (the green background on my lower BoP indicator), but on the daily chart, this has completely been depleted as seen here on this chart.
now if we cross below the $270 level, i will buy ATM PUTs 2 or 3 months out - and in that case, i would be looking at the $215-$220 as a new "worst case" - and that would be almost 33% off the all time high price - and given the ambiguity of the economic situation, and the bad earnings call expected in April, that even may not be the worst we get. i will update projection further once there's some enough patterns & price structure to make the calculations - which is very difficult for now.
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