Apple IncLong
Apple.......... What are you doing?
Updated
Apple has been in the same channel deviation channels more less since May. Since then obviously a few bounces but settles back into the same deviation channel. A bit risky however I purchased 117 calls for next week on Friday on the dip. I wanted to see it over 116.38 which is the .618 from the most recent high low swing but with earnings coming up figured I would make a move a little early and keep that 10% stop set. At close Friday I am 1.13% green and did avg down as I didnt get in right as the bottom, it was slightly early. As stated I made the jump a little early with a little anticipation or a earnings run up and held over the weekend but a candle over 116.50 area to confirm a climb over the .618 and I would personally buy. This is a weekly expiration as I do not intend on holding through earnings and will likely sell soon as I reach my profit goal or Wednesday at the latest.
Just to be clear.......the numbers listed below are from Barchart.com off of the traders cheat sheet. They will vary slightly as I pull my fib retracement from the most recent high low swing. Also, remember QQQ is a great tech play for earnings.
14 Day RSI at 80% 159.37
13-Week High 137.98
52-Week High 137.98
14 Day RSI at 70% 135.49
1-Month High 125.39
124.81 Price Crosses 40 Day Moving Average Stalls
122.76 14-3 Day Raw Stochastic at 80%
121.73 3-10-16 Day MACD Moving Average Stalls
121.45 14-3 Day Raw Stochastic at 70%
121.10 Price Crosses 18 Day Moving Average Stalls
119.33 38.2% Retracement From 13 Week High
118.82 14-3 Day Raw Stochastic at 50%
117.76 Price Crosses 9 Day Moving Average
117.64 14 Day %d Stochastic Stalls
117.60 14 Day %k Stochastic Stalls
117.60 38.2% Retracement From 4 Week High
Pivot Point 2nd Level Resistance 117.56
117.30 Price Crosses 18 Day Moving Average
High 116.55 High
116.43 Price Crosses 40 Day Moving Average
116.38 14 Day RSI at 50%
Pivot Point 1st Resistance Point 116.30
116.19 14-3 Day Raw Stochastic at 30%
115.81 Price Crosses 9 Day Moving Average Stalls
Previous Close 115.75 Previous Close
115.29 Pivot Point
115.19 50% Retracement From 4 Week High/Low
Last 115.04 Last
114.88 14-3 Day Raw Stochastic at 20%
Low 114.28 Low
Pivot Point 1st Support Point 114.03
113.56 50% Retracement From 13 Week High/Low
Pivot Point 2nd Support Point 113.02
Just to be clear.......the numbers listed below are from Barchart.com off of the traders cheat sheet. They will vary slightly as I pull my fib retracement from the most recent high low swing. Also, remember QQQ is a great tech play for earnings.
14 Day RSI at 80% 159.37
13-Week High 137.98
52-Week High 137.98
14 Day RSI at 70% 135.49
1-Month High 125.39
124.81 Price Crosses 40 Day Moving Average Stalls
122.76 14-3 Day Raw Stochastic at 80%
121.73 3-10-16 Day MACD Moving Average Stalls
121.45 14-3 Day Raw Stochastic at 70%
121.10 Price Crosses 18 Day Moving Average Stalls
119.33 38.2% Retracement From 13 Week High
118.82 14-3 Day Raw Stochastic at 50%
117.76 Price Crosses 9 Day Moving Average
117.64 14 Day %d Stochastic Stalls
117.60 14 Day %k Stochastic Stalls
117.60 38.2% Retracement From 4 Week High
Pivot Point 2nd Level Resistance 117.56
117.30 Price Crosses 18 Day Moving Average
High 116.55 High
116.43 Price Crosses 40 Day Moving Average
116.38 14 Day RSI at 50%
Pivot Point 1st Resistance Point 116.30
116.19 14-3 Day Raw Stochastic at 30%
115.81 Price Crosses 9 Day Moving Average Stalls
Previous Close 115.75 Previous Close
115.29 Pivot Point
115.19 50% Retracement From 4 Week High/Low
Last 115.04 Last
114.88 14-3 Day Raw Stochastic at 20%
Low 114.28 Low
Pivot Point 1st Support Point 114.03
113.56 50% Retracement From 13 Week High/Low
Pivot Point 2nd Support Point 113.02
Note
Since I already have 117 10/30 calls if it happens to dip prior to closing out my contracts I will AVG down personally, depending on the market I might roll them out to next week but with earnings I dont expect that to happen.Note
This is why trail stops are so important. Was up 20% and went down 17% currently. Greed will destroy your account quickly!Note
If anyone played this you should have been able to close with 20+% today
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