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iamvaibhavkr
Aug 12, 2020 9:50 AM

AAPL Trading in Troubled Water Short

Apple Inc.NASDAQ

Description

This gap up was basically a exhaustion but due to exuberance the price moved further away despite the bearish setup but now a correction is awaiting to happen after this irrational move. Also, a bearish harami candlestick pattern has been formed on the daily chart followed by a indecisive candle and then again with a bearish candle suggesting a downtrend.

Therefore, considering all the above points, a break below the current support, as per fibonacci levels i.e 436 will initiate the trade for the targets of 430, 421, 407 with an SL of 449 on closing basis.
Comments
Yearend85
good job
iamvaibhavkr
@Yearend85, Thanks
Sandeep2700
Awesome
iamvaibhavkr
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