Posts Tagged ‘chart analysis of AAPL’

Weekly View of Apple AAPL Shows Volume Disconfirm

Weekly View of Apple AAPL Shows Volume Disconfirm

Courtesy of Corey at Afraid to Trade

A reader asked me to take a look at Apple (AAPL), and I had to highlight the weekly timeframe volume divergence that has been developing off the price lows all through the current strong rally.  Let’s take a quick look at Apple’s (AAPL) weekly and daily stock charts.

The main thing that leaps off the chart at me is the major volume non-confirmation or divergence that has formed since the October 2008 lows (volume spike).  Technically, the volume non-confirmation did not begin until April, though look closely through July and August as price rose sharply… volume trailed off slightly each successive week.

Volume divergences (when price rises on lower volume) are non-confirmations, but they don’t cause us to run for the exits or jump in short – it’s just like a yellow light that signals caution instead of imminent danger… but it’s something Apple (AAPL) bulls should at least be aware.

Otherwise, there is no major level of resistance above save for the prior price highs at the $180 and $190 level – price is above the 61.8% Fibonacci zone which often serves as some sort of resistance.

Otherwise, look to weekly EMAs at $150 and $140 for any potential test of a support zone.

Apple (AAPL) Daily:

The daily chart steps us into the recent price action, which shows that a negative momentum divergence has formed along with the negative volume divergence as described.

What’s concerning me (from the bullish camp) on this chart is the volume spike that’s formed on the current bar (with one hour to go in today’s trading – that bar isn’t yet complete).  Price is down 1.33% on volume not seen since mid-July – that’s not bullish.

For short-term scalps, I’d look to see if the 20 day EMA held support at $166, and if not, then look to scalp for a possible play to test $160.

A failure beneath $160 could set-up a challenge of the $150 level as mentioned on the weekly chart.

Barring any downside momentum/movement here, we would expect the 20 EMA to hold (support) price as it has done in the past… but be on alert that the strength of the 20 to hold price could be weakening.

Corey Rosenbloom, CMT
Afraid to Trade.com

 


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Dozens of migrants disappear in Mexico as Central American caravan pushes northward

 

Dozens of migrants disappear in Mexico as Central American caravan pushes northward

Migrants travel in groups through Mexico for safety reasons. But Mexico is still one of the world’s most dangerous countries. AP Photo/Rodrigo Abd

Courtesy of Luis Gómez Romero, University of Wollongong

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Kimble Charting Solutions

King Dollar Creating A Topping Pattern This Week?

Courtesy of Chris Kimble.

CLICK ON CHART TO ENLARGE

King Dollar has spent the majority of the past 7-years inside of rising channel (1), as it’s created a series of higher lows and higher highs.

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Zero Hedge

IMF Sounds The Alarm On Leveraged Lending

Courtesy of ZeroHedge. View original post here.

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A Peek Into The Markets: US Stock Futures Fall, Dow Futures Down 100 Points

Courtesy of Benzinga.

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Members' Corner

NY Times: OPERATION INFEKTION

 

This is a three-part Opinion Video Series from NY Times about Russia’s meddling in the United States’ elections as part of its "decades-long campaign to tear the West apart." This is not fake news. Read more about the series here.

OPERATION INFEKTION

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Weekly Market Recap Nov 11, 2018

Courtesy of Blain.

This past week was saw another positive move up by bulls – especially in the Dow and S&P 500; the NASDAQ was not quite as enthusiastic.   Wednesday’s rally was on the legs of an election that was seen as market friendly or at least not as bad as it could have been.   Essentially – paying people a lot of money to get nothing done the next 2 years – woo hoo!

The market is interpreting Wedneday’s result as insuring that “no big things will get done,” in Washington between now and 2020, Craig Birk, chief investment officer at Personal Capital told MarketWatch. “The market appreciates the relative certainty of the slow legislative agenda.” he said.

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Digital Currencies

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Shutterstock

Courtesy of Steven Huckle, University of Sussex

Bitcoin recently turned ten years old. In that time, it has proved revolutionary because it ignores the need for modern money’s institutions to verify payments. Instead, Bitcoin relies on cryptographic techniques to prove identity and authenticity.

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Vilas Fund Up 55% In Q3; 3Q18 Letter: A Bull Market In Bearish Forecasts

By Jacob Wolinsky. Originally published at ValueWalk.

The Vilas Fund, LP letter for the third quarter ended September 30, 2018; titled, “A Bull Market in Bearish Forecasts.”

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Reminder: Pharmboy is available to chat with Members, comments are found below each post.

 

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Via Jean-Luc:

Famed investor reflecting on his mistakes:

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Swing trading portfolio - week of September 11th, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Promotions

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All About Trends

Mid-Day Update

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