Parabolic Move Sets Up Treasure Trade in Apple
Love their products but not current chart. While Bank of America is raising their price target to $290 (which isn't too far away), I am raising a red flag.
This weekly chart speaks volumes. Every parabolic move in Apple has been met with a fierce selloff. The least was a drop of 27% and the most 40%. On a a break and close of the parabolic curve, and only on the break of the parabolic close, we are looking to on a healthy short position. Our initial target will be near $200. Risk:reward should be well over 1:25.
This weekly chart speaks volumes. Every parabolic move in Apple has been met with a fierce selloff. The least was a drop of 27% and the most 40%. On a a break and close of the parabolic curve, and only on the break of the parabolic close, we are looking to on a healthy short position. Our initial target will be near $200. Risk:reward should be well over 1:25.
AlgoTrend Capital LLC
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