(Red Apple) The AAPL target of 619-620 has failed and is invalid now. AAPL is now within a small downtrend channel and the 603-604 horizontal support held so far. The 100% measure move of 615 still has chances, but it is definitely not a high probability trade due to rejection on resistance and slight downtrend channel. We're in wait in see mode. Can't long or short because we're below yellow resistance line and above 603 support.
See charts below.
See charts below.
Price action has been sideways for the last 2 days and it is monthly option expiration week. Based on the past few incidents of monthly OE for AAPL, Wednesdays are typically larger in terms of price action and/or it sets a new trend. See chart below
(Dotted teal lines are the Wednesdays on monthly options expiration week, and solid red lines are the Fridays)
(Dotted teal lines are the Wednesdays on monthly options expiration week, and solid red lines are the Fridays)
-Red Apple
