The 'FA' Breaks away from the 'ANG' in FAANGTech is leading but the leadership in tech has been narrowing even further in the last month
Apple and Facebook shares are outperforming - while the rest of the FAANG - Amazon, Netflix and Google are under performing.
One possible trade is a to assume a return to the mean - ie the laggards pickup and/or the winners pullback
The other takeaway is that the market leadership is getting very narrow - ie there is low breadth - which can often foretell a drop in the market (S&P 500 / Nasdaq)
Appleshort
Short $AAPL against $450 or in any rally
Hello Sophisticated Trader,
My last analysis on the $APPL stock was spot on, so I'm taking another look at it. I projected this price by year-end, however, market action has exceeded expectations. Fundamental is great for the company and the approved 4-1 stock split would send the pair back to over $100 in a month. In the meantime, technical are overbought, while the rumors of 3000 satellites are giving the share price a boost. Still, I'm shorting the rally for the lower price to buy.
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Dr. Lydia Smith
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Apple Weekly Chart Analysis: Correction is possibleAfter two consecutive bearish candles on the weekly chart, a correction is looking increasingly probable for the Apple stock. The stock price can drop to the 320 area within the next 2-3 weeks. However, a bigger correction towards the 270 level can not be ruled out.
Apple Stock Giving Us Doji Power.We want to focus on apples stock now as the 3 day is showing signs of a doji candle, ema dots shift red and the rsi shifts for a Crossover in overbought territory.
July 29th we get a close to see how valid this formation will setup. We want to see the candle close and begin to shift red also to align all indications. Hold your horses, let it play.
I have this one on my radar.
Apple back to 21 or 50 EMA in weekly time frameThere has been 2 major corrections in Apple since 2019. The first correction from October 2018 to January 2019 it dropped $90.75. The second correction, the beginning of the Corona virus pandemic, it dropped $117.37. If you take the average of the two corrections and subtract them from the all time high, that would be a retracement back to the 21 week moving average which Apple retraced back to in both corrections. Price target: 293.82
Apple Short. Wait for it....Read image notes also.
The 3 gorges dam issue in China is heating up and is expected to break in the months of july and august 2020. Long story short, IF** this does happen, there will be consequences on the manufacturing market and Apple's production could be affected. Hence I am short fundamentally on Apple.
Trade hasn't presented itself yet. The short term momentum is still bullish so my hunch is we will be on our way to 413.
We will hunt for market structure on top at 413 to see if short actually presents itself.
Idea invalidated if we keep continuing higher!
🍏 The Big Apple, No Signs Yet. (AAPL)💰 LET'S GET INTO SOME APPLE ANALYSIS!💰
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(Overall Market Sentiment) 🐮 Bullish
- 3day Chart
- Green Engulfing Candle
- 3/3 EMA DOTS Green
Everything on this one still sits green with no interest to play it yet even based off of the overall current look on the market. On to the next. Check later.
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Apple shortHere is an easy ta for Apple short.
Currently, Apple is close to ath 328 $ from its up-trend.
RSI and Bollinger Bands shows overbought signals and volume decreases.
So, there should follow a healthy correction to 38 retracement and next support at 284.
Any comments are welcome :).
Good luck for you trading.