AAPL Apple potential move out of the range

2017년 7월 9일

With the recent selloff going on in the Nasdaq we have seen the beloved FAANGs stocks tumble from their highs, providing us great daily opportunities in the options markets as well as day trading their ranges.
For AAPL, we see how the previous resistance from March 29 - April 5th is failing to attract new buyers, and how we are stuck inside this 5 points range between 142 - 147. Unless we break this range and move above the $147 with strong market move we will be stuck here until earnings (Aug 1st for AAPL).
The break of the $142, will take us to the $140 (previous resistance from March 1st and support from April 19th).
If we cannot hold the $140 and bounce, then range expansion could occur all the way to $134.
As I have traded over 25 years now, I know how hard can it be to sit on the sidelines but let me tell you, don't go looking for a trade because you will probably find one; instead let the trade come to you.
Be aware of the nuances in the charts and use them as guidelines for your trading!
Safe trading everyone!
#AAPL #DAYTRADINGFORLIFE