Apple Potential Sell SetupMy bias for the upcoming move is bearish.
Weekly
-If you take a look at the weekly you will notice that price met resistance and formed a shooting star candle stick pattern. (this is a clear sign that a reversal is near.)
-Price then proceeded to make a nice bearish push the following week. Then the previous that just ended was a retracement. Now price is ready to make another bearish push.
Daily
-Price formed a double top if you look at both tops that i circled. (a double top is a sign there is a potential for bearish momentum)
-Also I noticed there consist of a double top within each circle, this further encourages my idea that price is ready to make a bearish push.
- Now I am looking for price to make a bearish push breaking the neckline and ultimately testing the previous resistance area which is now serving as support around the 158 level.
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Aaplshort
$AAPL is nearing a climatic top, brings major risk to the marketAAPL stock is currently vertical, see way too many traders asking "should I sell my AAPL calls" or "its going to $200." - "its going to 3T market cap" reminds me of the last time it was around 2T mc and tanked. Funds buying large amounts of weekly calls always leads retail into a trap, they do this because in the interim they are planning to offload shares. Market makers are forced to hedge by buying up shares, when supply runs out and that option flow isnt there to support price through a gamma squeeze- the stock falls sharply. Retail is left holding the bag, the headlines/talking heads on cnbc sucker them in every time. Be patient, a big trade is coming. (Might be aligning with fed meeting on Wednesday.)
AAPL Short ChartRising Parallel Channel. Price hit resistance and looking back in time, price seems to bounce off that ascending level.
I expect a 3% dip and bounce back up off the EMA cloud. Confirmation on that volume decrease plus u got a doji-type candle at the peak just as it touched resistance.
Happy Trading,
Stefan
Owner of A-Stock Trading
AAPL, MSFT, & NFLX ShortNow I just got Pro+ on Black Friday sale so I'm having some fun with the chart layout.
Here's the reasoning for my shorts:
AAPL:
- Bearish Rising Wedge
- Decreasing volume to pair
MSFT:
- Bear Flag in massive pivot zone
NFLX:
- Quite large double top after significant uptrend
- Neckline recognized as pivot point
- Decreasing volume to pair
Note: I would only short these two on the breakout below and possibly a retest.
Happy Shorting,
Stefan
Apple ($AAPL) Price Forecasts for Upcoming FOMC MeetingDownward pressure, combined with increased volatility should push $AAPL down from it's current levels to at least the bottom of it's current channel over the course of the countdown to a concrete tapering schedule. Many believe the FOMC meeting on Sept. 22nd could be the formal announcement, as it would give the market enough time to adjust accordingly, however, as far as we know, the Fed has still not reached a consensus.
As with most market news, whether the tapering announcement happens or not, volatility will increase over the next week and a half, so it's important to keep an eye on both general market sentiment and price action and position yourself accordingly. This is a great week to play the edges as we are almost guaranteed to have hard swings. Historically, the market has dropped 3-5% every time JPOW has spoken in in the past year.
Besides a highly-likely bounce going into Monday (strictly due to the "rubber-band-effect" of being oversold locally from a haste sell off), $AAPL should continue to dip until the market knows the verdict from JPOW and the Fed.
An assumption at this point in time for all forecasts is that the upcoming Apple event has already been priced in, not only due to "buying the rumor" but also FAANG-M's massive "safe-haven" run-up over the past few months. The highest projected price has been labeled in the rare case Apple knocks it out of the park with their event or institutions want to induce FOMO in an unforgiving market. Overall market sentiment will most likely see through Apple's attempt to minimize the chip shortage and unless the future outlook can justify a sustained support channel, any pump should be short lived.
For logic and reasoning behind the forecasts trajectories, I have labeled each with assumed situations that could cause them, which includes pivot points, TA, fundamentals, historical price action, etc.
NOTE: This is NOT Financial Advice. Strictly for information purposes only. I know nothing and am nobody. I just draw pretty graphs and read an 8-ball.
AAPL Short (PT: $137)- With the current state of the market, AAPL can still see a drop in price. If we look back on the chart, we have a strong support zone of around $137. This zone is also confirmed by a gap up back at the beginning of July. AAPL will have to fill that gap up and it will hold that zone because in the past it was a strong area of resistance. If we don't hold the support then I will be watching 134.40 all the way down to the POC line for the next area of support.
- Another indicator I am using to show AAPL will keep heading down is the gap in the volume profile. On the right of the chart, the level we are at is right above the gap, if we don't hold this level on the next trading week we could see it fall through.
- A counter perspective we could see playout for the next trading week, is AAPL breakout above the trendline it has been following these past few weeks. A point to support this is the RSI divergence seen this last week of trading.
Bearish Sentiment on $AAPLRecent News - Apple reloads its stock with "new products" which aren't so new but with a higher price tag (Bearish). Epic Games v Apple (Bearish). Losing the fourth Apple car exec this year (Bearish). Quad Witching Sept 2021 (Leaning Bullish).
Trend - We're just coming off a bullish trend that helped us reach an ATH of $157.26. We broke that trend with a strong pullback from ATH with the Judge's ruling over Apple's in-app purchases. We're also still in this wedge pattern, which I believe we'll break from it within this month (hopefully next week).
Candles/Volume - We saw three wide body candles with strong, above average volume to validate them. We currently have two hammers with average volume which indicates that the buyers are holding at the ~$148 support level (could possibly be a reversal - volume makes me think not). I can see the buyers becoming exhausted and the price dropping down to the next support level of ~$145. If by chance the buyers don't step in at that price or they become overwhelmed, we can easily see the stock drop -8.78% from ~$148 to ~$135.
MA - The 200 MA has also be a previous strong support. Which it would currently fall at ~$135 if the market decided to pull back.
RSI - Starting up from July 7 to present. There is a bearish divergence on the RSI.
MACD - I believe it's just starting to pickup momentum with the signal line already having crossed over the MACD line. We also see a bearish divergence with the MACD, just like we saw with the RSI.
Constructive criticism would be appreciated.
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Apple Shares will Collapse this Year (I am buying this option)I hate stocks alright. I am also not a fan of apple. But I figured I'd turn the old money printer back on and buy a put option on apple for Nov 19 @ 135. Far out of the money, but it fits my risk tolerance and gives apple time to fall. Not financial advice, just saw an opportunity for myself and perhaps you guys too. My put is already up 60%, I'm holding till I feel apple has fallen enough, but take profits when you want. I am expecting apple shares to fall below 135 as
a major selloff occurs in the stock market. It may be this year, maybe next, but it will happen. Apple shares are in a bearish pattern (distribution), and also has bad press as privacy concerns arise.
WATCH $AAPL on monday MAKE OR BREAK!!!-We need to break fridays highs in order for us to see a continuation. Now as you may know apple has been having some crazy days so watch that break we might even gap up monday
-NOW if we reject oh boy PUTS ALL THE WAY baby that's a steal right there we are literally sitting smack in the middle
-SO there you have it your 2 possible scenarios that can happen based on how price moves monday.
AAPL Pullback coming?AAPL pulled back down to the 6DAY SMA and bounced back as the whole market also bounced back from the low. Here are my notes and what to watch out for:
-Looks like wave 3 of Elliott Wave has ended and looking for a slight pullback to form that wave 4 before another leg up.
-Watching the 21DAY SMA for a bounce or all the way down to .382 fib retracement.
-I would wait for confirmation and if the overall market continues to move higher.
-A small pullback would be healthy and would have more conviction on an ER run up to 150
NASDAQ:AAPL