APPLE – Stock Trading

APPLE – Stock Trading



The market looks overbought on the higher timeframes, and this idea is based on a possible correction movement. The price bounces from the resistance – it’s 184.00 level. We can use this signal for selling with stop orders above 184.20 and profit targets at 180.00 and 179.00 support levels. This trade gives a good risk/reward ratio, and it can be used for short term trading. The same goes about the 2nd trade which can be opened based on a breakout signal if the price drops below the local uptrend line and SMA50. The stop orders also must be placed above the local swing high. The main profit target should be at 180.00 support level . The 2nd profit target can be at 177.80 if the price breaks SMA100 and continue the falling.
Source: TW DLavrov

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