AAPL Approaching Key Levels – Will This Uptrend Hold?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.
