TRADING APPLE
TECHNICALS
APPLE Daily Technicals - iCahn Bet the House ? $AAPL #aapl
Jan 24 ( From TradingView )
Jan 24 ( From TradingView )
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SAMPLE FROM JANUARY 24
Another tweet from iCahn to tell us he bought more this week.
Any Bullet left Mr iCahn? Bet the House on that one ?
That will just bring more volatility into Apple Shares going forward...
My concern is we made a high yesterday of only $556.50 with Icahn
buying as crazy...
Now back to technicals:
We finally got out of the nasty downtrend channel that started on Jan 15.
Now, the tricky part:
For the bullish scenario to continue, I need that we stay above $547.80.
Starting to trade below $547.80 will mean to me technical weakness...
The ride will be a choppy pattern kind of price action still...
A daily close above $547.80 will give us a bullish scenario quicker and direct
go towards $554.50 max $557.30 for now. This is my main scenario for now...
A daily close below $547.80 but above $542.90 will mean for me a
consolidation / range trade for a few session.
A daily close below $542.90 will mean for me another gap down towards
$537.60 first max $535.10.
Apple shares outperformed the SP500 on Jan 23 (2nd chart below).
Expect a day trading range between $546 to $557 with average volatility.
Support : $547.80 and $543.30 Resistance : $554.50 and $557.30
I took 11 trades on $AAPL on Jan 23: Total Trading Daily Profit $6.90/sh.
Another tweet from iCahn to tell us he bought more this week.
Any Bullet left Mr iCahn? Bet the House on that one ?
That will just bring more volatility into Apple Shares going forward...
My concern is we made a high yesterday of only $556.50 with Icahn
buying as crazy...
Now back to technicals:
We finally got out of the nasty downtrend channel that started on Jan 15.
Now, the tricky part:
For the bullish scenario to continue, I need that we stay above $547.80.
Starting to trade below $547.80 will mean to me technical weakness...
The ride will be a choppy pattern kind of price action still...
A daily close above $547.80 will give us a bullish scenario quicker and direct
go towards $554.50 max $557.30 for now. This is my main scenario for now...
A daily close below $547.80 but above $542.90 will mean for me a
consolidation / range trade for a few session.
A daily close below $542.90 will mean for me another gap down towards
$537.60 first max $535.10.
Apple shares outperformed the SP500 on Jan 23 (2nd chart below).
Expect a day trading range between $546 to $557 with average volatility.
Support : $547.80 and $543.30 Resistance : $554.50 and $557.30
I took 11 trades on $AAPL on Jan 23: Total Trading Daily Profit $6.90/sh.
RATIO AAPL Stock over SPX ( Blue Line )
SP500 Index ( Candles )
SP500 Index ( Candles )
Jan 23 iCahn't Get No Satisfaction ?
Another tweet from iCahn to tell us he bought more last week.
Already embedded into the price action. Tell me something I don t know!
He got no Satisfaction yet and his next big move, he will be a seller...
Now back to technicals:
We finally got out of the nasty downtrend channel that started on Jan 15.
I wrote yesterday:
The ride will be a choppy pattern kind of price action...
A daily close above $546.90 will give us a bullish scenario quicker and direct
go towards $553.70 max $556.80 for now. The high yesterday was $557.29...
Now, the tricky part:
For the bullish scenario to continue, I need that we stay above $547.80.
Starting to trade below $547.80 will mean to me technical weakness...
The ride will be a choppy pattern kind of price action still...
A daily close above $547.80 will give us a bullish scenario quicker and direct
go towards $554.50 max $557.30 for now. This is my main scenario for now...
A daily close below $547.80 but above $543.30 will mean for me a
consolidation / range trade for a few session.
A daily close below $543.30 will mean for me another gap down towards
$537.60 first max $535.10.
Apple shares outperformed the SP500 on Jan 22 (2nd chart below).
Expect a day trading range between $546 to $557 with average volatility.
Support : $547.80 and $543.30 Resistance : $554.50 and $557.30
I took 15 trades on $AAPL on Jan 22: Total Trading Daily Profit $11.40/sh.
Jan 22 The Price Action Teaser ?
After Apple s sold off tremendously on Jan 17, we had a huge dead cat
bounce on Jan 21: for me, it remains only a Price Action Teaser.
We are not ready yet for the big departure...
Now back to technicals:
As of Jan 21, we are still nto a new nasty downtrend channel that started
on Jan 15 with $533.10 support and $546.90 as resistance.
I wrote yesterday:
We reached last Friday, the intraday and daily bearish targets:
Now I do expect a dead cat bounce towards the $546.90, level that will
make all the difference...
We did exceed my level: we made a high of $550.07
Now, the tricky part:
For the bullish scenario to continue, I need that we stay above $546.90.
Starting to trade below $546.90 will mean to me technical weakness...
The ride will be a choppy pattern kind of price action...
A daily close above $546.90 will give us a bullish scenario quicker and direct
go towards $553.70 max $556.80 for now. This is my main scenario for now...
A daily close below $546.90 but above $542.60 will mean for me a
consolidation / range trade for a few session.
A daily close below $542.60 will mean for me another gap down towards
$537.60 first max $535.10.
Apple shares outperformed the SP500 on Jan 21 (2nd chart below).
Expect a day trading range between $543 to $553 with average volatility.
Support : $546.90 and $542.60 Resistance : $550.10 and $553.70
Jan 21 The Perfect CHL Storm ?
After Apple s deal with China Mobile (CHL) Nirvana Price Action, earlier last
week, Apple Shares faced a few headwinds heading into the end of the week:
1) Buy the Rumour , Sell the News Factor
2) Options was a drag to Apple Shares
3) WSJ reports two negatives for the stock on Jan 17:
China Goes Native for New Operating System and the killer news
China Mobile’s iPhone Packages Are Surprisingly Expensive
Those events were all we needed to create the The Perfect CHL Storm !
Now back to technicals:
We are into a new nasty downtrend channel that started on Jan 15
with $533.10 support and $546.90 as resistance.
We reached last Friday, the intraday and daily bearish targets:
$546.70 and $542.40 respectively and the Ultimate $540.10 (low was $539.90)...
Now I do expect a dead cat bounce towards the $546.90 level (Now $546.90
becomes resistance) that will make all the difference...
The ride will be a choppy pattern kind of price action...
A daily close above $546.90 will give us a bullish scenario quicker and direct
go towards $550.10 max $553.50 for now. This is my main scenario for now...
A daily close below $546.90 but above $541.40 will mean for me a
consolidation / range trade for a few session.
A daily close below $541.40 will mean for me another gap down towards
$536.40 first max $533.60.
Apple shares underperformed tremendously the SP500 on Jan 17
(2nd chart below).
Expect a day trading range between $539 to $549 with extreme volatility.
Support : $536.40 and $533.60 Resistance : $546.90 and $550.10
I took 8 trades on $AAPL on Jan 17 Total Trading Daily Profit $7.20/sh, Total Weekly Profits of $38.80/sh.
Jan 17 Consolidation Phase Still ?
After Apple s deal with China Mobile Nirvana Price Action, I think we will
face a tiny consolidation period, more in time than in price...
Three days ago I wrote:
Only a daily close above $543.10 today will cancel the consolidation scenario
to a bullish one with targets of $547.70 first and max $550.80 (20DMA).
And we did closed at $546.39, triggering the bullish scenario...
On Jan 15, we traded as high s $560.20
Now $551.70 becomes support, we trade with a choppy pattern
and retest the $551 zone: but this time a risk of breaking it is a lot higher
than yesterday.
$551.70 broken will bring max $546.70 today. After that a rebound is
expected towards $556.70.
A daily close above $560.20 will give us a quicker and direct go towards
$565.30 max $568.30 for now.
A daily close below $551.70 will mean for me another gap down towards
$546.70 first max $542.40.
Apple shares underperformed the SP500 on Jan 16 (2nd chart below).
Expect a day trading range between $546 to $556 with average volatility.
Support : $551.70 and $546.70 Resistance : $556.70 and $561.90
I took 4 trades on $AAPL on Jan 16 Total Trading Daily Profit $4.60/sh.
Jan 16 Consolidation Phase ?
After Apple s deal with China Mobile Nirvana Price Action, I think we will
face a tiny consolidation period, more in time than in price...
Two days ago I wrote:
Only a daily close above $543.10 today will cancel the consolidation scenario
to a bullish one with targets of $547.70 first and max $550.80 (20DMA).
And we did closed at $546.39, triggering the bullish scenario...
On Jan 15, we traded as high s $560.20
Now $550.90 becomes support, we trade with a choppy pattern
and retest the $551 zone and rebound from it towards $561.90.
A daily close above $560.20 will give us a quicker and direct go towards
$565.30 max $568.30 for now.
A daily close below $550.90 will mean for me another gap down towards
$545.90 first max $543.20.
Apple shares outperformed again the SP500 on Jan 15 (2nd chart below).
Expect a day trading range between $550 to $561 with average volatility.
Support : $555.80 and $550.90 Resistance : $561.90 and $565.30
I took 14 trades on $AAPL on Jan 15 Total Trading Daily Profit $13.40/sh.,
Jan 15 CHL Double Deal ?
From Market Watch:
Apple s deal with China Mobile Ltd. to sell iPhones won’t be limited to
handsets, but will also entail broad cooperation between the two companies,
the chairman of the world’s largest carrier said Wednesday
Yesterday I wrote:
Only a daily close above $543.10 today will cancel the consolidation scenario
to a bullish one with targets of $547.70 first and max $550.80 (20DMA).
And we did closed at $546.39, triggering the bullish scenario...
Now $543.10 becomes support, we trade with a choppy pattern
and rise towards $555.80 max $561.90 for today...
A daily close below $543.10 will mean for me another gap down towards
$538.10 first max $534.70.
Apple shares outperformed again the SP500 on Jan 14 (2nd chart below).
Expect a day trading range between $548 to $561 with extreme volatility.
Support : $547.80 and $543.10 Resistance : $555.80 and $561.90
I took 16 trades on $AAPL on Jan 14 Total Trading Daily Profit $7.10/sh.,
Jan 14 Hit and Run?
Last week I wrote:
A daily close below $538.80 will mean for me a direct drop towards
$533.30 first max $528.20. And we did it on Jan 9 and 10.
It is getting more complicated here; we have 2 channels overlap:
No1) an old downward channel that started on Dec 24 with
now $528.70 as support and $541.10 as resistance.
No2) A new channel that started Jan 6 with $529.90 as support and
$543.10 as resistance
Only a daily close above $543.10 today will cancel the consolidation scenario
to a bullish one with targets of $547.70 first and max $550.80 (20DMA).
A daily close below $529.90 will mean for me another gap down towards
$525.90 first max $523.30.
Now $543.10 becomes resistance, we trade with a choppy pattern
and have first a dead cat bounce towards $537.50 max $543.10 and resume
downtrend for a test of $529.90 for now...
A daily close above $543.10 will mean that we saw the lows and a new
bull trend is emerging with with targets of $547.70 max $550.80 for now...
Apple shares outperformed again the SP500 on Jan 13 (2nd chart below).
Expect a day trading range between $532 to $543 with above volatility.
Support : $531.90 and $529.90 Resistance : $537.50 and $541.30
I took 27 trades on $AAPL on Jan 13 Total Trading Daily Profit $6.50/sh.,
Jan 13 The Apple Abysmal Experiment ?
May I remind you that we had on Jan 9 a bearish engulfing pattern for
Apple Shares - see chart below...
Last week I wrote:
A daily close below $538.80 will mean for me a direct drop towards
$533.30 first max $528.20. And we did it on Jan 9.
It is getting more complicated here; we have 3 channels overlap:
No1) an old downward channel that started on Dec 24 with
now $531.90 as support and $543.60 as resistance.
No2) started on Dec 31, that channel have $514.50 as support
and $530.80 as resistance.
No3) A new channel that started Jan 6 with $530.30 as support and
$543.60 as resistance
Only a daily close above $543.60 today will cancel the bear scenario
to a bullish one with targets of $548.80 first and max $552.00 (20DMA).
A daily close below $530.80 will mean for me another gap down towards
$527.50 first max $524.90.
Now $543.60 becomes resistance, we trade with a choppy pattern
and have first a dead cat bounce towards $534.10 max $537.50 and resume
downtrend for a test of $530.30 and $527.50 for now...
A daily close above $543.60 will mean that we saw the lows and a new
bull trend is emerging with with targets of $546.80 max $548.80 for now...
Apple shares underperformed again the SP500 on Jan 10 (2nd chart below).
Expect a day trading range between $528 to $538 with average volatility.
Support : $530.30 and $527.50 Resistance : $537.50 and $540.80
I took 10 trades on $AAPL on Jan 10
Total Trading Daily Profit $6.80/sh., Total Weekly Profits of $25.80/sh
Jan10 Rotten Apple Capitulation Phase ?
2 days ago I wrote:
We can expect again from here a test of the crucial level of $546.80 and
that will make all the difference in the next few trading sessions...
Yesterday, it was rejected again ; did trade $546.94 as the high and
collapse after...Strike 3...
We are still within a downward channel that started on Dec 24 with
now $533.30 as support and $545.20 as resistance.
That channel is within another downtrend channel ( overlapp ) but
still have to consider it: started on Dec 31 with $518.10 as support
and $534.30 as resistance.
Only a daily close above $545.20 today will cancel the consolidation scenario
to a bullish one with targets of $549.90 first and max $553.40.
A daily close below $538.80 will mean for me a direct drop towards
$533.30 first max $528.20.
Now $545.20 becomes resistance, we trade with a choppy pattern
and have a dead cat bounce towards $543.10 max $545.20 and resume
downtrend for a retest of $538.80 and $533.30 for now...
A daily close above $545.20 will mean that we saw the lows but can still
be in a period of consolidation/range, kind of $538 zone to $550...
Apple shares underperformed the SP500 on Jan 9 (2nd chart below).
Expect a day trading range between $533 to $545 with average volatility.
Support : $537.50 and $533.60 Resistance : $545.20 and $549.90
I took 19 trades on $AAPL on Jan 9 Total Trading Daily Profit $3.90/sh.
Jan9 Deception ?
We can expect again from here a test of the crucial level of $546.80 and
that will make all the difference in the next few trading sessions...
Yesterday, it was rejected again ; did trade $545.56 as the high...
Strike 2...
We are still within a downward channel that started on Dec 24 with
now $535.80 as support and $548.50 as resistance.
That channel is within another downtrend channel ( overlapp ) but
still have to consider it: started on Dec 31 with $522.30 as support
and $538.60 as resistance.
Only a daily close above $548.50 today will cancel the consolidation scenario
to a bullish one with targets of $550.90 first and max $554.90.
A daily close below $538.80 will mean for me a direct drop towards
$533.60 first max $531.60.
Now $546.80 becomes resistance, we trade with a choppy pattern
towards a retest of $538.80 for now and range trade...
A daily close above $546.80 will mean that we saw the lows but can still
be in a period of consolidation/range, kind of $538 zone to $550...
Apple shares outperformed the SP500 on Jan 8 (2nd chart below).
Expect a day trading range between $538 to $549 with average volatility.
Support : $538.80 and $533.60 Resistance : $546.80 and $550.90
I took 7 trades on $AAPL on Jan 7 Total Trading Daily Profit $7.20/sh.
Jan8 The Sum of All Fears ?
Rising Volatility for Apple Shares means that the option market is driving
the price action : The Sum of All Fears...
We can expect again from here a test of the crucial level of $546.80 and
that will make all the difference in the next few trading sessions...
Yesterday, it was rejected; did trade $545.96 as the high...
We are still within a downward channel that started on Dec 31 with
$526.10 as support and $542.30 as resistance.
That channel is within another downtrend channel ( overlapp ) but
still have to consider it: the downtrend channel started on Dec 24 with
now $537.60 as support and $550.70 as resistance.
Only a daily close above $550.70 today will cancel the consolidation scenario
to a bullish one with targets of $552.20 first and max $557.00.
A daily close below $538.80 will mean for me a direct drop towards
$533.60 first max $530.60.
Now $546.80 becomes resistance, we trade with a choppy pattern
towards a retest of $538.80 for now and range trade...
A daily close above $546.80 will mean that we saw the lows but can still
be in a period of consolidation/range, kind of $538 zone to $550...
Apple shares underperformed the SP500 on Jan 7 (2nd chart below).
Expect a day trading range between $535 to $547 with average volatility.
Support : $538.80 and $533.60 Resistance : $543.70 and $546.80
I took 7 trades on $AAPL on Jan 7 Total Trading Daily Profit $7.20/sh.
Jan 7 Is Good Enough ?
On Jan 6 I wrote:
Capitulation it seems in the pre-opening session...
Now $546.00 becomes resistance, we trade with a choppy pattern
towards $538.80 max $533.50 for now. ( It did trade at $533.60 )
Very nice rebound indeed on Jan 6, but is that very good performance
good enough ?
We can expect from here a test of the crucial level of $546.80 and that will
make all the difference in the next few trading sessions...
We are within a new downward channel that started on Dec 31 with
$529.60 as support and $546.00 as resistance.
That channel is within another downtrend channel ( overlapp ) but
still have to consider it: the downtrend channel started on Dec 24 with
now $540.80 as support and $553.10 as resistance.
Only a daily close above $553.10 today will cancel the consolidation scenario
to a bullish one with targets of $555.70 first and max $559.50.
Now $546.80 becomes resistance, we trade with a choppy pattern
towards a retest of $538.80 for now.
A daily close above $546.80 will mean that we saw the lows but can still
be in a period of consolidation/range, kind of $538 zone to $552...
Apple shares outperformed the SP500 on Jan 6 (2nd chart below).
Expect a day trading range between $539 to $552 with average volatility.
Support : $538.80 and $533.50 Resistance : $546.80 and $550.10
I took 4 trades on $AAPL on Jan 6 Total Trading Daily Profit $7.90/sh.,
JAN6 The China Syndrome ?
From the movie: The China Syndrome
On Jan 2 I wrote:
Since Dec 31, Price Action was driven by portfolio rebalancing, end of the year.
Feel kind of Saloon s door price action for the next few sessions...
Well, more than saloon s door, imploding prices since then; a kind of
China Syndrome where too much optimism and the street caught too long..
Capitulation it seems in the pre-opening session...
We can expect from here a dead cat bounce to $538.80 max $543.10 before
resuming downtrend: the main trend remain bearish since Dec 24 as shown
on the charts below...
Price action was so bearish that we went out of the downtrend channel but
still have to consider it: the downtrend channel started on Dec 24 with
now $543.40 as support and $555.10 as resistance.
Only a daily close above $555.10 today will cancel the consolidation scenario
to a bullish one with targets of $558.40 first and max $561.20.
Now $546.00 becomes resistance, we trade with a choppy pattern
towards $538.80 max $533.50 for now ( we did it almost already ).
Apple shares underperformed tremendously the SP500 since December 5
(2nd chart below).
Expect a day trading range between $536 to $547 with average volatility.
Support : $533.50 and $531.90 Resistance : $538.80 and $543.10
I took 10 trades on $AAPL on Jan 3 Total Trading Daily loss $1.90/sh.,
Total Weekly Profits (2days) of $1.60/sh
JAN3 Saloon s Door Experiment ?
Since Dec 31, Price Action was driven by portfolio rebalancing, end of the year.
Feel kind of Saloon s door price action for the next few sessions...
We are still in a nasty downtrend channel that started on Dec 24 with
$545.10 as support and $557.70 as resistance.
Only a daily close above $557.70 today will cancel the consolidation scenario
to a bullish one with targets of $561.20 first and max $563.70.
Now $552.60 becomes support, we trade with a slow choppy grinding pattern
towards $556.90 max $563.70 for now.
Having a daily close below $557.70 today will put us back on a bearish
path with risk of slippage towards $547.30...
Having a daily close above $558.70 will mean a quicker path towards $563.70
and $566.50...
May I remind you that this $558.70 level comes from a Trendline that started
on March 2009 .( See charts below, amber trend line ).
Apple shares underperformed slightly the SP500 on Jan 2 (2nd chart below).
Expect a day trading range between $553 to $561 with average volatility.
Support : $552.60 and $547.30 Resistance : $556.90 and $561.20
I took 11 trades on $AAPL on Jan 2 Total Trading Daily profit $3.50/sh.,
JAN 2 Apple Shares at Crossroads ?
On Dec 31, Price Action was driven by portfolio rebalancing, end of the year.
Feel kind of Saloon s door price action for the next few sessions...
We are still in a nasty downtrend channel that started on Dec 24 with
$547.50 as support and $560.20 as resistance.
We have also a new uptrend channel that started on Dec 30 with $554.40
as support and $561.70 as resistance.
On Dec 30 I wrote
Still, I need a daily close above $558.40 today to keep the consolidation
scenario from a bearish one with targets at $565.60 and $572.60 are in the
cards... , unless $558.40 broken, a slippage towards $557.50 max $553.30.
And having a daily close below $557.50 will bring us a nasty new bear trend
towards $537.60.
And we did close at $553.65 on Dec 30 but rebounded violently on Dec 31:
For me it was saloon s door kind of price action...
Only a daily close above $557.30 today will cancel the bearish scenario
to a bullish one with targets of $561.20 first and max $563.70. ( And we did
on Dec 31 ).
Now $558.30 becomes support, we trade with a slow grinding pattern
towards $564.80 max $566.50 for now.
Having a daily close below $558.30 today will put us back on a bearish
path towards $547.50...
May I remind you that this $558.30 level comes from a Trendline that started
on March 2009 .( See charts below, amber trend line ).
Apple shares outperformed slightly the SP500 on Dec 31 (3rd chart below).
Expect a day trading range between $558 to $564 with average volatility.
Support : $558.30 and $556.20 Resistance : $564.80 and $565.50
I took 4 trades on $AAPL on Dec 19 Total Trading Daily profit $5.10/sh.,
Total Weekly Profits of $21.80
My trading is done for the year...
I stopped publishing live my trades on the stream, it seems it was annoying for some participants...
Another tweet from iCahn to tell us he bought more last week.
Already embedded into the price action. Tell me something I don t know!
He got no Satisfaction yet and his next big move, he will be a seller...
Now back to technicals:
We finally got out of the nasty downtrend channel that started on Jan 15.
I wrote yesterday:
The ride will be a choppy pattern kind of price action...
A daily close above $546.90 will give us a bullish scenario quicker and direct
go towards $553.70 max $556.80 for now. The high yesterday was $557.29...
Now, the tricky part:
For the bullish scenario to continue, I need that we stay above $547.80.
Starting to trade below $547.80 will mean to me technical weakness...
The ride will be a choppy pattern kind of price action still...
A daily close above $547.80 will give us a bullish scenario quicker and direct
go towards $554.50 max $557.30 for now. This is my main scenario for now...
A daily close below $547.80 but above $543.30 will mean for me a
consolidation / range trade for a few session.
A daily close below $543.30 will mean for me another gap down towards
$537.60 first max $535.10.
Apple shares outperformed the SP500 on Jan 22 (2nd chart below).
Expect a day trading range between $546 to $557 with average volatility.
Support : $547.80 and $543.30 Resistance : $554.50 and $557.30
I took 15 trades on $AAPL on Jan 22: Total Trading Daily Profit $11.40/sh.
Jan 22 The Price Action Teaser ?
After Apple s sold off tremendously on Jan 17, we had a huge dead cat
bounce on Jan 21: for me, it remains only a Price Action Teaser.
We are not ready yet for the big departure...
Now back to technicals:
As of Jan 21, we are still nto a new nasty downtrend channel that started
on Jan 15 with $533.10 support and $546.90 as resistance.
I wrote yesterday:
We reached last Friday, the intraday and daily bearish targets:
Now I do expect a dead cat bounce towards the $546.90, level that will
make all the difference...
We did exceed my level: we made a high of $550.07
Now, the tricky part:
For the bullish scenario to continue, I need that we stay above $546.90.
Starting to trade below $546.90 will mean to me technical weakness...
The ride will be a choppy pattern kind of price action...
A daily close above $546.90 will give us a bullish scenario quicker and direct
go towards $553.70 max $556.80 for now. This is my main scenario for now...
A daily close below $546.90 but above $542.60 will mean for me a
consolidation / range trade for a few session.
A daily close below $542.60 will mean for me another gap down towards
$537.60 first max $535.10.
Apple shares outperformed the SP500 on Jan 21 (2nd chart below).
Expect a day trading range between $543 to $553 with average volatility.
Support : $546.90 and $542.60 Resistance : $550.10 and $553.70
Jan 21 The Perfect CHL Storm ?
After Apple s deal with China Mobile (CHL) Nirvana Price Action, earlier last
week, Apple Shares faced a few headwinds heading into the end of the week:
1) Buy the Rumour , Sell the News Factor
2) Options was a drag to Apple Shares
3) WSJ reports two negatives for the stock on Jan 17:
China Goes Native for New Operating System and the killer news
China Mobile’s iPhone Packages Are Surprisingly Expensive
Those events were all we needed to create the The Perfect CHL Storm !
Now back to technicals:
We are into a new nasty downtrend channel that started on Jan 15
with $533.10 support and $546.90 as resistance.
We reached last Friday, the intraday and daily bearish targets:
$546.70 and $542.40 respectively and the Ultimate $540.10 (low was $539.90)...
Now I do expect a dead cat bounce towards the $546.90 level (Now $546.90
becomes resistance) that will make all the difference...
The ride will be a choppy pattern kind of price action...
A daily close above $546.90 will give us a bullish scenario quicker and direct
go towards $550.10 max $553.50 for now. This is my main scenario for now...
A daily close below $546.90 but above $541.40 will mean for me a
consolidation / range trade for a few session.
A daily close below $541.40 will mean for me another gap down towards
$536.40 first max $533.60.
Apple shares underperformed tremendously the SP500 on Jan 17
(2nd chart below).
Expect a day trading range between $539 to $549 with extreme volatility.
Support : $536.40 and $533.60 Resistance : $546.90 and $550.10
I took 8 trades on $AAPL on Jan 17 Total Trading Daily Profit $7.20/sh, Total Weekly Profits of $38.80/sh.
Jan 17 Consolidation Phase Still ?
After Apple s deal with China Mobile Nirvana Price Action, I think we will
face a tiny consolidation period, more in time than in price...
Three days ago I wrote:
Only a daily close above $543.10 today will cancel the consolidation scenario
to a bullish one with targets of $547.70 first and max $550.80 (20DMA).
And we did closed at $546.39, triggering the bullish scenario...
On Jan 15, we traded as high s $560.20
Now $551.70 becomes support, we trade with a choppy pattern
and retest the $551 zone: but this time a risk of breaking it is a lot higher
than yesterday.
$551.70 broken will bring max $546.70 today. After that a rebound is
expected towards $556.70.
A daily close above $560.20 will give us a quicker and direct go towards
$565.30 max $568.30 for now.
A daily close below $551.70 will mean for me another gap down towards
$546.70 first max $542.40.
Apple shares underperformed the SP500 on Jan 16 (2nd chart below).
Expect a day trading range between $546 to $556 with average volatility.
Support : $551.70 and $546.70 Resistance : $556.70 and $561.90
I took 4 trades on $AAPL on Jan 16 Total Trading Daily Profit $4.60/sh.
Jan 16 Consolidation Phase ?
After Apple s deal with China Mobile Nirvana Price Action, I think we will
face a tiny consolidation period, more in time than in price...
Two days ago I wrote:
Only a daily close above $543.10 today will cancel the consolidation scenario
to a bullish one with targets of $547.70 first and max $550.80 (20DMA).
And we did closed at $546.39, triggering the bullish scenario...
On Jan 15, we traded as high s $560.20
Now $550.90 becomes support, we trade with a choppy pattern
and retest the $551 zone and rebound from it towards $561.90.
A daily close above $560.20 will give us a quicker and direct go towards
$565.30 max $568.30 for now.
A daily close below $550.90 will mean for me another gap down towards
$545.90 first max $543.20.
Apple shares outperformed again the SP500 on Jan 15 (2nd chart below).
Expect a day trading range between $550 to $561 with average volatility.
Support : $555.80 and $550.90 Resistance : $561.90 and $565.30
I took 14 trades on $AAPL on Jan 15 Total Trading Daily Profit $13.40/sh.,
Jan 15 CHL Double Deal ?
From Market Watch:
Apple s deal with China Mobile Ltd. to sell iPhones won’t be limited to
handsets, but will also entail broad cooperation between the two companies,
the chairman of the world’s largest carrier said Wednesday
Yesterday I wrote:
Only a daily close above $543.10 today will cancel the consolidation scenario
to a bullish one with targets of $547.70 first and max $550.80 (20DMA).
And we did closed at $546.39, triggering the bullish scenario...
Now $543.10 becomes support, we trade with a choppy pattern
and rise towards $555.80 max $561.90 for today...
A daily close below $543.10 will mean for me another gap down towards
$538.10 first max $534.70.
Apple shares outperformed again the SP500 on Jan 14 (2nd chart below).
Expect a day trading range between $548 to $561 with extreme volatility.
Support : $547.80 and $543.10 Resistance : $555.80 and $561.90
I took 16 trades on $AAPL on Jan 14 Total Trading Daily Profit $7.10/sh.,
Jan 14 Hit and Run?
Last week I wrote:
A daily close below $538.80 will mean for me a direct drop towards
$533.30 first max $528.20. And we did it on Jan 9 and 10.
It is getting more complicated here; we have 2 channels overlap:
No1) an old downward channel that started on Dec 24 with
now $528.70 as support and $541.10 as resistance.
No2) A new channel that started Jan 6 with $529.90 as support and
$543.10 as resistance
Only a daily close above $543.10 today will cancel the consolidation scenario
to a bullish one with targets of $547.70 first and max $550.80 (20DMA).
A daily close below $529.90 will mean for me another gap down towards
$525.90 first max $523.30.
Now $543.10 becomes resistance, we trade with a choppy pattern
and have first a dead cat bounce towards $537.50 max $543.10 and resume
downtrend for a test of $529.90 for now...
A daily close above $543.10 will mean that we saw the lows and a new
bull trend is emerging with with targets of $547.70 max $550.80 for now...
Apple shares outperformed again the SP500 on Jan 13 (2nd chart below).
Expect a day trading range between $532 to $543 with above volatility.
Support : $531.90 and $529.90 Resistance : $537.50 and $541.30
I took 27 trades on $AAPL on Jan 13 Total Trading Daily Profit $6.50/sh.,
Jan 13 The Apple Abysmal Experiment ?
May I remind you that we had on Jan 9 a bearish engulfing pattern for
Apple Shares - see chart below...
Last week I wrote:
A daily close below $538.80 will mean for me a direct drop towards
$533.30 first max $528.20. And we did it on Jan 9.
It is getting more complicated here; we have 3 channels overlap:
No1) an old downward channel that started on Dec 24 with
now $531.90 as support and $543.60 as resistance.
No2) started on Dec 31, that channel have $514.50 as support
and $530.80 as resistance.
No3) A new channel that started Jan 6 with $530.30 as support and
$543.60 as resistance
Only a daily close above $543.60 today will cancel the bear scenario
to a bullish one with targets of $548.80 first and max $552.00 (20DMA).
A daily close below $530.80 will mean for me another gap down towards
$527.50 first max $524.90.
Now $543.60 becomes resistance, we trade with a choppy pattern
and have first a dead cat bounce towards $534.10 max $537.50 and resume
downtrend for a test of $530.30 and $527.50 for now...
A daily close above $543.60 will mean that we saw the lows and a new
bull trend is emerging with with targets of $546.80 max $548.80 for now...
Apple shares underperformed again the SP500 on Jan 10 (2nd chart below).
Expect a day trading range between $528 to $538 with average volatility.
Support : $530.30 and $527.50 Resistance : $537.50 and $540.80
I took 10 trades on $AAPL on Jan 10
Total Trading Daily Profit $6.80/sh., Total Weekly Profits of $25.80/sh
Jan10 Rotten Apple Capitulation Phase ?
2 days ago I wrote:
We can expect again from here a test of the crucial level of $546.80 and
that will make all the difference in the next few trading sessions...
Yesterday, it was rejected again ; did trade $546.94 as the high and
collapse after...Strike 3...
We are still within a downward channel that started on Dec 24 with
now $533.30 as support and $545.20 as resistance.
That channel is within another downtrend channel ( overlapp ) but
still have to consider it: started on Dec 31 with $518.10 as support
and $534.30 as resistance.
Only a daily close above $545.20 today will cancel the consolidation scenario
to a bullish one with targets of $549.90 first and max $553.40.
A daily close below $538.80 will mean for me a direct drop towards
$533.30 first max $528.20.
Now $545.20 becomes resistance, we trade with a choppy pattern
and have a dead cat bounce towards $543.10 max $545.20 and resume
downtrend for a retest of $538.80 and $533.30 for now...
A daily close above $545.20 will mean that we saw the lows but can still
be in a period of consolidation/range, kind of $538 zone to $550...
Apple shares underperformed the SP500 on Jan 9 (2nd chart below).
Expect a day trading range between $533 to $545 with average volatility.
Support : $537.50 and $533.60 Resistance : $545.20 and $549.90
I took 19 trades on $AAPL on Jan 9 Total Trading Daily Profit $3.90/sh.
Jan9 Deception ?
We can expect again from here a test of the crucial level of $546.80 and
that will make all the difference in the next few trading sessions...
Yesterday, it was rejected again ; did trade $545.56 as the high...
Strike 2...
We are still within a downward channel that started on Dec 24 with
now $535.80 as support and $548.50 as resistance.
That channel is within another downtrend channel ( overlapp ) but
still have to consider it: started on Dec 31 with $522.30 as support
and $538.60 as resistance.
Only a daily close above $548.50 today will cancel the consolidation scenario
to a bullish one with targets of $550.90 first and max $554.90.
A daily close below $538.80 will mean for me a direct drop towards
$533.60 first max $531.60.
Now $546.80 becomes resistance, we trade with a choppy pattern
towards a retest of $538.80 for now and range trade...
A daily close above $546.80 will mean that we saw the lows but can still
be in a period of consolidation/range, kind of $538 zone to $550...
Apple shares outperformed the SP500 on Jan 8 (2nd chart below).
Expect a day trading range between $538 to $549 with average volatility.
Support : $538.80 and $533.60 Resistance : $546.80 and $550.90
I took 7 trades on $AAPL on Jan 7 Total Trading Daily Profit $7.20/sh.
Jan8 The Sum of All Fears ?
Rising Volatility for Apple Shares means that the option market is driving
the price action : The Sum of All Fears...
We can expect again from here a test of the crucial level of $546.80 and
that will make all the difference in the next few trading sessions...
Yesterday, it was rejected; did trade $545.96 as the high...
We are still within a downward channel that started on Dec 31 with
$526.10 as support and $542.30 as resistance.
That channel is within another downtrend channel ( overlapp ) but
still have to consider it: the downtrend channel started on Dec 24 with
now $537.60 as support and $550.70 as resistance.
Only a daily close above $550.70 today will cancel the consolidation scenario
to a bullish one with targets of $552.20 first and max $557.00.
A daily close below $538.80 will mean for me a direct drop towards
$533.60 first max $530.60.
Now $546.80 becomes resistance, we trade with a choppy pattern
towards a retest of $538.80 for now and range trade...
A daily close above $546.80 will mean that we saw the lows but can still
be in a period of consolidation/range, kind of $538 zone to $550...
Apple shares underperformed the SP500 on Jan 7 (2nd chart below).
Expect a day trading range between $535 to $547 with average volatility.
Support : $538.80 and $533.60 Resistance : $543.70 and $546.80
I took 7 trades on $AAPL on Jan 7 Total Trading Daily Profit $7.20/sh.
Jan 7 Is Good Enough ?
On Jan 6 I wrote:
Capitulation it seems in the pre-opening session...
Now $546.00 becomes resistance, we trade with a choppy pattern
towards $538.80 max $533.50 for now. ( It did trade at $533.60 )
Very nice rebound indeed on Jan 6, but is that very good performance
good enough ?
We can expect from here a test of the crucial level of $546.80 and that will
make all the difference in the next few trading sessions...
We are within a new downward channel that started on Dec 31 with
$529.60 as support and $546.00 as resistance.
That channel is within another downtrend channel ( overlapp ) but
still have to consider it: the downtrend channel started on Dec 24 with
now $540.80 as support and $553.10 as resistance.
Only a daily close above $553.10 today will cancel the consolidation scenario
to a bullish one with targets of $555.70 first and max $559.50.
Now $546.80 becomes resistance, we trade with a choppy pattern
towards a retest of $538.80 for now.
A daily close above $546.80 will mean that we saw the lows but can still
be in a period of consolidation/range, kind of $538 zone to $552...
Apple shares outperformed the SP500 on Jan 6 (2nd chart below).
Expect a day trading range between $539 to $552 with average volatility.
Support : $538.80 and $533.50 Resistance : $546.80 and $550.10
I took 4 trades on $AAPL on Jan 6 Total Trading Daily Profit $7.90/sh.,
JAN6 The China Syndrome ?
From the movie: The China Syndrome
On Jan 2 I wrote:
Since Dec 31, Price Action was driven by portfolio rebalancing, end of the year.
Feel kind of Saloon s door price action for the next few sessions...
Well, more than saloon s door, imploding prices since then; a kind of
China Syndrome where too much optimism and the street caught too long..
Capitulation it seems in the pre-opening session...
We can expect from here a dead cat bounce to $538.80 max $543.10 before
resuming downtrend: the main trend remain bearish since Dec 24 as shown
on the charts below...
Price action was so bearish that we went out of the downtrend channel but
still have to consider it: the downtrend channel started on Dec 24 with
now $543.40 as support and $555.10 as resistance.
Only a daily close above $555.10 today will cancel the consolidation scenario
to a bullish one with targets of $558.40 first and max $561.20.
Now $546.00 becomes resistance, we trade with a choppy pattern
towards $538.80 max $533.50 for now ( we did it almost already ).
Apple shares underperformed tremendously the SP500 since December 5
(2nd chart below).
Expect a day trading range between $536 to $547 with average volatility.
Support : $533.50 and $531.90 Resistance : $538.80 and $543.10
I took 10 trades on $AAPL on Jan 3 Total Trading Daily loss $1.90/sh.,
Total Weekly Profits (2days) of $1.60/sh
JAN3 Saloon s Door Experiment ?
Since Dec 31, Price Action was driven by portfolio rebalancing, end of the year.
Feel kind of Saloon s door price action for the next few sessions...
We are still in a nasty downtrend channel that started on Dec 24 with
$545.10 as support and $557.70 as resistance.
Only a daily close above $557.70 today will cancel the consolidation scenario
to a bullish one with targets of $561.20 first and max $563.70.
Now $552.60 becomes support, we trade with a slow choppy grinding pattern
towards $556.90 max $563.70 for now.
Having a daily close below $557.70 today will put us back on a bearish
path with risk of slippage towards $547.30...
Having a daily close above $558.70 will mean a quicker path towards $563.70
and $566.50...
May I remind you that this $558.70 level comes from a Trendline that started
on March 2009 .( See charts below, amber trend line ).
Apple shares underperformed slightly the SP500 on Jan 2 (2nd chart below).
Expect a day trading range between $553 to $561 with average volatility.
Support : $552.60 and $547.30 Resistance : $556.90 and $561.20
I took 11 trades on $AAPL on Jan 2 Total Trading Daily profit $3.50/sh.,
JAN 2 Apple Shares at Crossroads ?
On Dec 31, Price Action was driven by portfolio rebalancing, end of the year.
Feel kind of Saloon s door price action for the next few sessions...
We are still in a nasty downtrend channel that started on Dec 24 with
$547.50 as support and $560.20 as resistance.
We have also a new uptrend channel that started on Dec 30 with $554.40
as support and $561.70 as resistance.
On Dec 30 I wrote
Still, I need a daily close above $558.40 today to keep the consolidation
scenario from a bearish one with targets at $565.60 and $572.60 are in the
cards... , unless $558.40 broken, a slippage towards $557.50 max $553.30.
And having a daily close below $557.50 will bring us a nasty new bear trend
towards $537.60.
And we did close at $553.65 on Dec 30 but rebounded violently on Dec 31:
For me it was saloon s door kind of price action...
Only a daily close above $557.30 today will cancel the bearish scenario
to a bullish one with targets of $561.20 first and max $563.70. ( And we did
on Dec 31 ).
Now $558.30 becomes support, we trade with a slow grinding pattern
towards $564.80 max $566.50 for now.
Having a daily close below $558.30 today will put us back on a bearish
path towards $547.50...
May I remind you that this $558.30 level comes from a Trendline that started
on March 2009 .( See charts below, amber trend line ).
Apple shares outperformed slightly the SP500 on Dec 31 (3rd chart below).
Expect a day trading range between $558 to $564 with average volatility.
Support : $558.30 and $556.20 Resistance : $564.80 and $565.50
I took 4 trades on $AAPL on Dec 19 Total Trading Daily profit $5.10/sh.,
Total Weekly Profits of $21.80
My trading is done for the year...
I stopped publishing live my trades on the stream, it seems it was annoying for some participants...
