Apple Head and Shoulders

9 Ağu 2020

Okay, not a very good one. Nonetheless, will be watching Apple this week to see if it can stay above $440. Lots of volume following positive earnings, but it quickly fell off. The volume just isn't there in the head formation ($440-450). BUT, we may see an uptick this week and test previous resistance levels. Right now, I'm thinking the price will fall back into the previous channel and form the right 'shoulder.'

11 Ağu 2020

Not

Right shoulder almost complete.

11 Ağu 2020

Not

Would love to see a nice 2-3 month consolidation at these prices.

12 Ağu 2020

Not

Selling volume yesterday pushed us down into the right shoulder as I was expecting. Big spike in volume during the last 15 minutes of the day yesterday brought out the 'buy-the-dip' crowd. But a nice surge of buyers followed suit in morning today. Volume weak/below avg across the days session so far. Will be watching this stock last 30 minutes today. May be an interesting opportunity to enter a position for a potential gap up to $457 tomorrow. Otherwise, expecting to deflect from $435 ceiling.

12 Ağu 2020

Not

Correction: $453 ceiling.