Technical Analysis (TA) for Trading:
* Current Price Action: AAPL is trading around $238.54, showing a strong rebound from the prior reversal zone near $229 - $234. It has broken out of a descending trendline and is now consolidating near $239, a key resistance level.
* Support Levels:
* $234.02 – Key support aligned with prior rejection zones.
* $229.20 – Strong demand zone where buyers stepped in previously.
* Resistance Levels:
* $244.02 – Immediate resistance where price previously struggled.
* $251.08 – Higher resistance, aligning with historical price action.
* Indicators:
* MACD: Bullish momentum but showing slight exhaustion.
* Stochastic RSI: High but beginning to cool off, suggesting consolidation before a breakout or pullback.
* Volume: Increased buying pressure supports the breakout but needs continuation to sustain.
* Price Outlook:
* If AAPL holds above $238, it can attempt a move toward $244 - $250.
* A drop below $234 could lead to further downside toward $229.
GEX & Options Analysis for Trading:
* Gamma Exposure (GEX) Insights:
* Highest Positive GEX / Call Resistance: $250 – A significant resistance zone where call positions may slow the uptrend.
* 2nd Call Wall: $260 – Additional call resistance if momentum sustains.
* Put Support at $225 – Major downside support from options positioning.
* Additional Put Walls at $220 and $230 – Lower levels that could trigger dealer hedging if broken.
* IV & Market Sentiment:
* IV Rank (IVR): 57.3 – Moderate volatility, making options reasonably priced.
* IVx Avg: 37.6, showing a slightly lower-than-average implied volatility.
* Options Sentiment: Puts at 18.6%, suggesting bullish sentiment overall.
Trading Strategy:
* Bullish Scenario:
* Entry near $238 - $240 with a target at $244 - $250.
* Stop-loss at $234.
* Bearish Scenario:
* If rejected at $240, a short position targeting $234 - $230 with a stop at $242.
Final Thoughts:
AAPL is holding a bullish structure after breaking out of a key trendline, but it needs to clear $244 to confirm a continuation. Options data suggests $250 is a critical gamma resistance. Watch for volume and momentum signals to confirm direction.
Disclaimer: This analysis is for educational purposes only and not financial advice. Always do your own research before trading.
* Current Price Action: AAPL is trading around $238.54, showing a strong rebound from the prior reversal zone near $229 - $234. It has broken out of a descending trendline and is now consolidating near $239, a key resistance level.
* Support Levels:
* $234.02 – Key support aligned with prior rejection zones.
* $229.20 – Strong demand zone where buyers stepped in previously.
* Resistance Levels:
* $244.02 – Immediate resistance where price previously struggled.
* $251.08 – Higher resistance, aligning with historical price action.
* Indicators:
* MACD: Bullish momentum but showing slight exhaustion.
* Stochastic RSI: High but beginning to cool off, suggesting consolidation before a breakout or pullback.
* Volume: Increased buying pressure supports the breakout but needs continuation to sustain.
* Price Outlook:
* If AAPL holds above $238, it can attempt a move toward $244 - $250.
* A drop below $234 could lead to further downside toward $229.
GEX & Options Analysis for Trading:
* Gamma Exposure (GEX) Insights:
* Highest Positive GEX / Call Resistance: $250 – A significant resistance zone where call positions may slow the uptrend.
* 2nd Call Wall: $260 – Additional call resistance if momentum sustains.
* Put Support at $225 – Major downside support from options positioning.
* Additional Put Walls at $220 and $230 – Lower levels that could trigger dealer hedging if broken.
* IV & Market Sentiment:
* IV Rank (IVR): 57.3 – Moderate volatility, making options reasonably priced.
* IVx Avg: 37.6, showing a slightly lower-than-average implied volatility.
* Options Sentiment: Puts at 18.6%, suggesting bullish sentiment overall.
Trading Strategy:
* Bullish Scenario:
* Entry near $238 - $240 with a target at $244 - $250.
* Stop-loss at $234.
* Bearish Scenario:
* If rejected at $240, a short position targeting $234 - $230 with a stop at $242.
Final Thoughts:
AAPL is holding a bullish structure after breaking out of a key trendline, but it needs to clear $244 to confirm a continuation. Options data suggests $250 is a critical gamma resistance. Watch for volume and momentum signals to confirm direction.
Disclaimer: This analysis is for educational purposes only and not financial advice. Always do your own research before trading.
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.