Apple IncLong
AAPL shorts trapped? Daily and hourly charts
APPL daily and hourly charts
Strong move to the upside with earnings beat and thrust through resistance in Friday's session. I think a lot of shorts are trapped here with a false break down of the ascending wedge pattern, into a gap and go move. Watching for a hold of 172.82 to 173.64 to push higher and continue the squeeze. If we break this level, I'd like a retest of the wedge trendline around 171.85 to go long. If we lose this level I'll be watching for the gap below to be filled.
Strong move to the upside with earnings beat and thrust through resistance in Friday's session. I think a lot of shorts are trapped here with a false break down of the ascending wedge pattern, into a gap and go move. Watching for a hold of 172.82 to 173.64 to push higher and continue the squeeze. If we break this level, I'd like a retest of the wedge trendline around 171.85 to go long. If we lose this level I'll be watching for the gap below to be filled.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.