AAPL is in a huge rising wedge. If this bearish pattern is broken, the downside targets for APPL are T1 160 which is 50 days MA, and T2 150 where BigRed aka 200 days SMA. On this level there could be only short-lived bounces.
There are substantial bearish divergences on both RSI and MACD signaling end of rise is near or here.
Also, AAPL stopped on the resistance line, a blue dotted line.
All this is enough for me to take 50% already on the short position and the rest of the position after it breaks the pattern.
With proper risk management tools and stop loss in the right position this almost certainly wins the trade.
There are substantial bearish divergences on both RSI and MACD signaling end of rise is near or here.
Also, AAPL stopped on the resistance line, a blue dotted line.
All this is enough for me to take 50% already on the short position and the rest of the position after it breaks the pattern.
With proper risk management tools and stop loss in the right position this almost certainly wins the trade.
Consistency is the key of success....
warning warning warning, apple just drop out of the rising wedge with a volume. If it doesn't heal itself today it will be nasty for bulls