TRADING APPLE

 TECHNICALS
APPLE Daily Technicals - From Apple Fever to Euphoria Phase ?   $AAPL ​​​#aapl
September 3 ​( From TradingView  )

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​​The past few sessions have been the ​Apple Fever story just before the
​SE ( Special Event ) due September 9.

But now, with that run up, we are getting near the Euphoria Phase as the
daily and weekly channel have been broken ( see charts below ).​​​

​​In my special research of the week end on that ( APPLE Volatility Technicals
​- High Expectations Already ?
), I say that this year, the expectations
already priced into the RV ( Realtive Volatility ) is at his highest compare to
​the​  previous three years.

​​​​​​​​​Now, three main factors are still driving​​​ the price of Apple Shares: SE ​Rumours, ​bullish Counter Trend Behavior​ and bearish Correlation Risks. ​That tells me that volatility will increase.​

We are within a new uptrend channel ( overlap ) with $103.42 as support and ​$105.26 as resistance.​​
​Also, we have an uptrend channel with $101.65 as support and ​$103.56 as resistance.​​

​​We need a daily close above the 103.42 level for that Euphoria Phase to continue.
​We need a daily close above the 101.65 level for that Bullish Trend to continue. Unless, we will be back in a correction mode IF that level is broken.​​​
​​​​

​​​​​​​​​I expect volatility picking up a lot getting near SE.

​​​​​​​​​​​​​​​​​​​​​Relative Volatility fell ( with stronger prices - a bad mix​ - see 4rth chart below ) ​and ​​​Counter ​​​​​​Trend ​​​is bullish for Apple Shares ​and ​finally, Correlation ​​​are back into ​​​the ​​critical​ ​​​​phase ​( from  0.55 to 0.52 ).

​Those risks factors are neutral compare to the last few sessions.

​Now back to technicals:​​

We are still within an uptrend channel that started on August 19 with $101.65 as support and $103.56 as resistance.

Also, ​​we are within a new uptrend channel ( overlap ) that started on August 27 with $103.42 as support and ​$105.26 as resistance.​​
​​
We have on a weekly basis, an uptrend channel that started on the week of June 23 with $95.70 as support and $102.73 as resistance ( broken on August 28 ). See 2nd chart below.
​​
​​Starting to trade below $101.65 will mean to me extreme technical weakness...​​​​​

​​Starting to trade AND stay above $103.56 will mean to me technical strenght...​​​​​

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $103.56 ​will give us another ​bullish ​impulse scenario ​and direct go towards $104.10 ​​max $104.51 for ​​now ​in ​the ​​next few sessions.

​​Need to stay above on a daily close ​$101.65 to iAm in a Bullish Mode...

​A daily close below $103.56 but above $101.65 will mean for me that we are ​​​into a ​Bullish pattern trade scenario for a few sessions

​A daily close below $101.65 will mean for me ​that we are back into a correction phase and ​another gap down ​towards ​$100.​70 max $99.32.

​Apple shares outperformed the SP500 on September 2 ​​(see 3rd chart chart below).

​​​Expect a day trading range between $103.00 - $104.10 with average volatility.

​​​​​​Support : $103.42 and $102.72         Resistance :​​ $104.10 and  $104.51


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RATIO AAPL​ Stock over SPX ( Blue Line )
SP500 Index ( Candles )


​ AAPL​ Stock Price Daily  ( Daily Candle Chart )

AAPL Relative Volatility ( Candle Chart )
​7 DMA ( Yellow Line )

AAPL​ Stock Price Daily ( Weekly Candle Chart )