An update to the December 24th look-ahead on AAPL.
The first chart was a weekly linear scale view showing that a tap of the EMA 200 would coincide with a 62% retrace from the high. Here is the current view (click to expand) showing the EMA 200 having been tested this week.
Here is the log scale view showing the trend channel.
There was a lot of negative fundamental noise about Apple last week but if you are fundamentally bullish on this company for the long-term NFTRH+ provides the technicals. As per the previous update on 12.24.18:
So the world may be ending or perhaps the 140s may be a buying opportunity on a very substantial company. NFTRH+’s job is just to illustrate the charts. I started a position. A stop loss would be to suit risk tolerance below the 130 to 140 range.
I ended up taking a small profit on those shares more for market risk management than anything else. But I am watching the above situation to consider re-entry, pending the broader market view.
A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the buy, sell, stop parameters are already noted. They are meant as a starting point for your further research if interested. I will not personally buy every item highlighted and will sometimes sell (ref. Trade Log) any item that I do buy below target (assuming I’ve not stopped out or sold for some other reason), which is something I often do as a trader. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.