Apple – Entry Levels for Buying
APPLE INC NASDAQ:AAPL
The price could pass through the cloud. From this moment we should search for buy opportunities as the market became bullish . The price reverses from Kijun line but buying based on this reversal signal is rather risky. We have a bearish divergence and falling ADX line of bullish DMI. It tells us that the market can move lower and test the cloud as a support zone . If so, it will be better to wait for reversal signals between 170.00-164.00 levels and only after that open long positions.
Another entry level could be above the local swing high. But as we have a resistance level not far from this high, it will be better to put pending orders for buy above 180.00 resistance.
Stop orders for all buy trades it’s better to place below 164.00 support level . Profit targets should be at the resistance levels.
Source: TW DLavrov