Long AAPL 571.50 think it bottomed.
Only Apple
- Thread starter short4bread
- Start date
You and I both thought it was going to fall out, but it looks like it reversed right on the trend line.
This is what i got going on for apple.
I have 2 limit orders set.
limit buy 576.00 take profit 3.5% at 596.00, stop loss at 5.55 3.5%
Daily Chart
looking for a 4 bar set up 2 of the last 3 bars being green and the forth breaking the previous three bars resistance. My limit order hit would be the fourth bar. If this doesn't hit tomorrow i will reevaluate.
Take profit is a reasonable 3.5% and my stop loss also at 3.5% right below the support of the previous three bars. I want to allow the trade to bounce off support if it goes against me at first.
If the market remains bearish and Apple falls victim.
Limit sell 549.00 Take profit after first reverse daily bar pivot which also means a potential stop loss at first daily reverse pivot.
I may Take profits sooner! Stop loss will not be manipulated.
Limit sell at 549.00 due to the broken neckline April 24ths 555.00 low
I wouldn't buy market unless one of these two things transpire at the time you are watching it happen.
I am sure i can be criticized for my trade setups. There are reasons why I take profits somewhat fast. Also reasons for a boring even R:R.
This allows a high potential to take profit in either direction.
I have 2 limit orders set.
limit buy 576.00 take profit 3.5% at 596.00, stop loss at 5.55 3.5%
Daily Chart
looking for a 4 bar set up 2 of the last 3 bars being green and the forth breaking the previous three bars resistance. My limit order hit would be the fourth bar. If this doesn't hit tomorrow i will reevaluate.
Take profit is a reasonable 3.5% and my stop loss also at 3.5% right below the support of the previous three bars. I want to allow the trade to bounce off support if it goes against me at first.
If the market remains bearish and Apple falls victim.
Limit sell 549.00 Take profit after first reverse daily bar pivot which also means a potential stop loss at first daily reverse pivot.
I may Take profits sooner! Stop loss will not be manipulated.
Limit sell at 549.00 due to the broken neckline April 24ths 555.00 low
I wouldn't buy market unless one of these two things transpire at the time you are watching it happen.
I am sure i can be criticized for my trade setups. There are reasons why I take profits somewhat fast. Also reasons for a boring even R:R.
This allows a high potential to take profit in either direction.
The 576-596 Trade should work fine When (If?) AAPL resumes its uptrend, and goes back up to the 600's.
Hopefully (because I'm Long!) the 549.00-down?? Trade won't happen...
Of course if AAPL decides to go sideways for a while, in the 576-555 range, you could get whipsawed. But there's no way to set things up for all possibilities.
555.00 is still the low of the Channel, so things are at least "stable" for now. We'll see what tomorrow brings...
Quote from cactiman:
The 576-596 Trade should work fine When (If?) AAPL resumes its uptrend, and goes back up to the 600's.
Hopefully (because I'm Long!) the 549.00-down?? Trade won't happen...
Of course if AAPL decides to go sideways for a while, in the 576-555 range, you could get whipsawed. But there's no way to set things up for all possibilities.
555.00 is still the low of the Channel, so things are at least "stable" for now. We'll see what tomorrow brings...
I'll keep my buy limit open. Didn't hit today. Almost though!
Like you said we will see what happens tomorrow.
Apple is back testing the recent lows. In pre-market today it is down around $7 to $9 or 1.2% to 1.5% as I write. We may even test the low 555.00 again next week before we get a bounce. You could have to wait a few days to fill your order?
I donât see a resumption of the uptrend for a few days. I personnally am looking for some upside starting mid week next week.
Longer term one of the concerns of Big Money about Apple is that Apple has a weak pipeline of new products. They are not introducing totally new block buster products at the rate they once were. Even though they are still selling current products at a record rate and have great current record earnings some think the future earnings are a little foggy. It is this future revenue projection from new product cycles that may have some of the big money edgy.
Then there is:
Betsy Rafael who is VP, Corporate Controller at Apple Inc. (NASDAQ:AAPL), sold 2,954 shares at $572.19 per share for a total value of $1,690,243. The shares recently traded at $570.52, down $1.67, or 0.29% since the insider sale.
The much-rumored 7" iPad (AAPL) will be manufactured by Foxconn (HNHAF.PK) and launch in August, claim Digitimes' sources. The occasionally-accurate site also reports the next iPhone will launch in September, and a new 10" iPad will arrive in Q4 - the latter assertion is eyebrow-raising, given Apple's history of Q1 iPad launches.
