AAPL Approaching Key Resistance: Game Plan for Dec. 4, 2024AAPL is showing a steady uptrend, respecting an ascending channel on the hourly timeframe. With volume building and technicals aligning, this could be a key moment for traders to plan their next move.
1️⃣ Price Action & Chart Analysis
* Trend Channel: AAPL is moving within a rising channel, bouncing off the lower trendline and heading toward the upper boundary.
* Key Levels:
* Immediate Resistance: $243
* Support: $240 and $238.90
Expect potential consolidation or a breakout if $243 is breached with volume.
2️⃣ Liquidity Zones & Order Blocks
* Liquidity Zone: $240–$243 is a critical zone where significant buying pressure has been observed.
* Order Block: The demand zone around $238.90 aligns with a previous accumulation area, making it a solid support level.
3️⃣ Scalping Strategy
For intraday scalpers:
* Entry: Look for a breakout above $243 with strong volume confirmation. Target $245 for a quick trade.
* Stop-Loss: Set a tight stop below $242 to limit downside risk.
* Alternative Play: Wait for a pullback near $240, entering long if support holds.
4️⃣ Swing Trade Strategy
For swing traders:
* Entry Option 1: Buy near the lower trendline at $240 if support confirms.
* Entry Option 2: Breakout above $243, aiming for $245–$250.
* Targets: Initial target at $245, extended target at $250.
* Stop-Loss: Below $238 for swing entries to ensure risk management.
5️⃣ Momentum & Indicators
* MACD on the hourly chart is bullish, showing momentum building as the price approaches resistance.
* Volume is gradually increasing, signaling interest from buyers.
Game Plan for Tomorrow
* Scenario 1: If AAPL breaks above $243, enter on confirmation with volume, targeting $245 and above.
* Scenario 2: If it fails to break $243, prepare for a retest of $240 or $238.90 for long opportunities.
Disclaimer:
This analysis is for educational purposes only and not financial advice. Always do your research and trade responsibly.