The most simple trades are the best trades most of the time, and staying patient to get those set ups is the hard part but they usually pay off. AAPL has historically come down from all time high to test the up trend line and along with this trend line throughout history has been the 50 month moving average, but this time its different. we have the 50 month moving average at about $146 dollar per share and our trend line is at $131 per share. A $15 dollar difference can be huge depending on how much you are investing and nobody wants to miss buying the bottom either way, therefore i feel we need to turn our eyes to the RSI. AAPL has bounced off to new ATH after coming down to 40 and 45 on the RSI so those will be levels we will need to watch and look for confluence weather we touch the 50 month moving average or the historical trend line at those levels.
At $146 and at $131 i Will be looking for Support level, RSI, Candle closing formation, MA and trend line confluence when i finally open a long position on AAPL.
At $146 and at $131 i Will be looking for Support level, RSI, Candle closing formation, MA and trend line confluence when i finally open a long position on AAPL.