$AAPL could be bottoming around $169.4There are two more levels below: 167.4 and 165.5. I think the game could be a waiting game for $APPL to bottom, but seems like a good risk-reward to add $175c for a bounce play at these RSI levels, into perhaps end of month. Market makers will do all efforts to maintain the stock below 175 I imagine. It's always safer for these type of bottoming plays to go longer in expiration and to hedge below, perhaps at 165 in the shorter term. Trade safe.
AAPL trade ideas
$APPL path to $190 updatedBriefly touched $178.7 in the pre market, but needs to touch it perhaps in real trading hours. This in an important level that should hold. Or better said, must hold or $APPL may end up trading lower into the $175s. Acceptance below $175 takes it to $171 where it can find a strong buyer. The ride to $190 is full of bump, perhaps with an initial impulse buying up into $185.
Level above> Acceptance above 180.54 sends it to $184.77 then break of $185 leads to $189. Break of $189.5 leads to $194. Acceptance above $194.6 brings $199, above this no man's land.
$APPL so far has been able to stay inside the wedgeI think Apple is preparing to hold the market during march and april 2024. The fact that Apple has filtered the end of the EV era at Apple makes me think there was a lot of pressure inside the company's leadership to put an end to what appeared to be a non-lucrative enterprise. At least not as lucrative as manufacturing phones and computers with 50% margins, unless the car was sold above the $150k mark or so. It is bullish but not in the short term as Apple needs to refocus on its AI powerhouse. For some reason they have been reluctant to push the button to transform Siri into a modern version of an AI that should be able to compete with Open AI's chat gpt. I can imagine the project is in the works, and it is a matter of time for them to push the button and upgrade Siri. The VR googles sill early but they seem to be on the right path in terms of hardware, however META has an edge in the market given the amount of data Whatsapp has amassed including Facebook itself. Apple should start moving to compete neck to neck with Meta i think in the next 24 months or so. I'd take calls no higher than 200 strike expiring in april and beyond or a mix of call spread to sell the 200 and buy the 180-190 depending on how much you want to risk. Perhaps grabbing a couple of puts just to hedge below 175 in the short term, in case Tim Apple goes SNOW style.
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