September 18, 2019

Apple Is Coiling Up For A Move

I normally do not ‘give’ away any signals, but I have spoken about $AAPL recently. I think it is time for a nice breakout move. While the markets are in a bit of a standstill, we could see a strong bump in the markets after the FOMC meeting. If that is the case, you would have to expect $AAPL to move in sympathy. In fact, I expect $AAPL to be a leader if we move higher. What I am going to show you is a chart of $AAPL on an hourly time frame. What you are going to notice is how sideways the stock has gotten. While there is some resistance above, I honestly feel that there are more growth capabilities for $AAPL than $AMZN. That being said, this is NOTa buy if the markets move lower and unravel (Unless Apple bucks that trend of course). What I am looking for is $AAPL stock price to crossover the top of the channel or the upper green line. Once it CLOSES above the upper green line, we must OPEN above as well. If the stock holds or rejects at the upper channel, we have signs of a potential breakout. The markets want it. Traders want it. I WANT IT. Your eyes must be on $AAPL near term at the $220.59 price. That is the upper channel and the price of interest. Go FOMC and Go $APPL breakout.

 

about the author:

Charles Moon

Charles Moon is a technical "whiz kid" whose experience lies in scalp/swing trading. A patient educator, Charles excels at coaching/mentoring and can make complex concepts simple. Prior to joining the ranks of Prosper Trading Academy, Charles was a proprietary equities trader with Great Point Capital LLC. Coming from a retail trading background, his experience can help those with no experience trading to seasoned veterans.

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