reasonable target for AAPL short with move to set up call spread
AAPL was hit with professional selling pressure creating a gap on the weekly time frame. We would calld this a professional gap. And with continued closes on the weekly time frame below this would confirm the staying power of this move.
There are several themes to this chart.
(1) the nature of the bands
In upward sloping technical environment AAPL would act this way, every time price drifts into the central band it would act as a launching pad to drive its way up to the higher band, where any breaks higher further confirm price keeping its bullish momentum
points where mean reversion happened: those are indicated by the dialogue boxes and the text says bounce to denote where the bigger buyers were. They are in fact near zones of consolidation
(2) placement of dialogue arrows to indicate points on the chart and AAPLs sensitivity to extremes. The majority of the points of touch at the orange arrows highlight closes above the upper band
Current position. The price action is hinting at a near doji point of for the week and I placed a target at 164.44 and I might have to move it up if price stalls somewhat. One thing we need to consider is where the central band would go in light of current momentu,
We are going to be talking about income through call options when the target is reached.
There are several themes to this chart.
(1) the nature of the bands
In upward sloping technical environment AAPL would act this way, every time price drifts into the central band it would act as a launching pad to drive its way up to the higher band, where any breaks higher further confirm price keeping its bullish momentum
points where mean reversion happened: those are indicated by the dialogue boxes and the text says bounce to denote where the bigger buyers were. They are in fact near zones of consolidation
(2) placement of dialogue arrows to indicate points on the chart and AAPLs sensitivity to extremes. The majority of the points of touch at the orange arrows highlight closes above the upper band
Current position. The price action is hinting at a near doji point of for the week and I placed a target at 164.44 and I might have to move it up if price stalls somewhat. One thing we need to consider is where the central band would go in light of current momentu,
We are going to be talking about income through call options when the target is reached.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.