Exciting backdrop
Fundamentally, Apple remains a safe haven
Technically, the stock is positive on every time frame
Double breakout
It formed a visible, short-term cup-with-handle since Jan 18 (see chart)
It broke out of the formation 3 sessions ago on March 8 (last Thu), in mild volume
Yesterday, it also broke out and closed above its most recent historical high at $180
The stock could be headed to 200 - Looking for volume confirmation
Next resistances 189 / 195 / 200
Next supports 178 / 174 / 172 / 170 / 168 / 160
How to play it?
Play the double-breakout and buy the shares here
Stop-loss $174 (-8)
Target $195 (+13)
R/R 1.62x
Fundamentally, Apple remains a safe haven
Technically, the stock is positive on every time frame
Double breakout
It formed a visible, short-term cup-with-handle since Jan 18 (see chart)
It broke out of the formation 3 sessions ago on March 8 (last Thu), in mild volume
Yesterday, it also broke out and closed above its most recent historical high at $180
The stock could be headed to 200 - Looking for volume confirmation
Next resistances 189 / 195 / 200
Next supports 178 / 174 / 172 / 170 / 168 / 160
How to play it?
Play the double-breakout and buy the shares here
Stop-loss $174 (-8)
Target $195 (+13)
R/R 1.62x
Comentário:
AAPL could also be forming a reverse H&S with Head at 150, shoulders around the 169-172 area and neckline at 180. If the stock goes back and holds above 180 this could be confirmed, in which case the 195 target within 2 months would hold.
