Potential Apple (AAPL) short for this upcoming week

2020년 11월 1일

Since Oct. 12, Apple had a nice down trend, price in between two levels (105.4 and 112), which I think are important. 112 provided past support and 105.4 also provided past support. These two levels are significant to me for this upcoming week assuming Apple is following this down ward trend. For the open tomorrow I am interested to see how it reacts around the 108.75/109 price level. I identified that area as significant but not as significant as 105.4 and 112 in my personal opinion. As seen on the chart, the purple zone is where I would be watching Apple very carefully. I could see Apple contesting the down trend line as it has done recently, but if it doesnt break the trend I will be getting more confident in my short.

My ideal trade here is Apple continues on the down trend, and I can add to my short in the 105.4 area. I feel if it breaks through the 105.4 support the stock will tank.

Note: With the upcoming election, it could really flip everything upside down. However the technicals look like it could end up being a good trade IF the down trend continues.

Additionally: I think Tesla is following a similar pattern and I will be also looking to short that as well.