A fellow trader alerted me that my previous AAPL chart reading is too unreadable :) - so here's a fresh, cleaner chart reading showing only the price chart - no complex indicators - using the weekly view and marking what i will be closely watching in the next 3 months - and possibly a trading scenario (long) - this scenario is still inline with the previous one .. linked below.
- Disclaimer: This is only one of many possible scenarios - no trader (or indicator) can predict the future - Please do not consider this as a trade recommendation and do your own research before risking your capital
main assumptions: - AAPL will maintain the (longer-term) up-trending channel established almost a year ago - Quarterly earnings (in Oct and Jan) show favorable results (regardless of market reaction) - mainly fueled by iPhone13 & other new products - Holiday Season sales - Expect sideways price movement above support - the next 2-4 weeks - so the timeline may vary
Estimated entry and exit zones are as marked on the chart Possible breakdown if $134-135 level is breached to the downside Possible breakout if $154-155 level is breached to the upside Average entry / BE around $138 Average Exit / TP ~$170
Target is $32 (P&L around 23%) overall time ~ 3-4 months (Oct to Jan/Feb 22)
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