Epic Short Level Nears On Apple Inc (AAPL)
By Mon, Jul 22, 2019
Shares of Apple Inc (AAPL) continue their march higher as more investors jump on the bull bandwagon. With a P/E ratio approaching the high end of the mature company historic levels, investors need to turn their attention to the charts to see how to play this stock.
When analyzing the AAPL stock chart, it is easy to see that the stock has surged from a low in June of $175 to a current high of $206. This monster move signals an overbought situation, but not a defined short signal… yet. That short signal will come to fruition if/when $AAPL trades to $211.75. At that price, the chart will reveal an epic gap fill, plus a double top. These two factors will present a short signal that will likely serve investors well for a large drop in the stock price. A near-term pullback to $193 should be seen within weeks of this level being tagged.
As always, stock charts present us with a very powerful tool in trading and investing. They allow us to keep probability on our side, and have been the basis of thousands of trades I have taken and verified in my track record. Watch this level on AAPL very closely as it will be the best time for you to take a position in the stock.
About the Author
Chief Market Strategist Gareth Soloway has been an avid swing and day trader since his days at Binghamton University where he studied Economics. After college, Gareth quickly excelled as a financial adviser but his heart was always in swing and day trading. He had this long standing belief that he could help investors make more money by advising them on shorter term investments (holding a stock for days to weeks) than the buy and hold crowd who lost 50% of their money during every market collapse. “Why not profit during the bear markets just like the bull markets”, he said. While helping others gain financial independence during the day, he spent his nights studying charts and price action, developing a unique market trading system that put his profits on a rocket ship. Some nights he would barely sleep when he found a new technique that was proven, once back-tested.
