Room to fall
It seems like Apple has some room to fall - to the low 140s range, and could even hit 130s range IF the broader marker wants to head down.
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PolyQ : Long wait
VogueHereIAm : Yes!!!!! Lao sai
Mike Hunt : Here’s what my technicals show on the daily. We are not in no man’s land. On the Fibonacci daily we are already knocking on S3. That’s last support. R1 is 150.71
Mike Hunt : On the monthly, we just slipped below R1. We can slide all the way to S1 at 130 on the monthly Fibonacci
Mike Hunt : On the charts “R” is resistance and “S” is support
Cow Moo-neyOP Mike Hunt: Thanks for the sharing buddy! Seems like it does have room to fall
Mike Hunt Cow Moo-neyOP: For sure. It was 129 on June 17 a month ago
Cow Moo-neyOP Mike Hunt: Am patiently (and eagerly) waiting for weakness in the stock so that I can trade some options
Mike Hunt Cow Moo-neyOP: I loaded up on 8/19 puts first thing today. Will take profit on half before earnings and gamble on the rest for earnings. I’m predicting 130 after earnings with general market weakness starting with netflix earnings tomorrow
Cow Moo-neyOP Mike Hunt: Nice! IV will likely spike up next week, right before the earnings. Glad to hear that you’re planning to take some profits off the table. I mean, taking profits is something that is easiest to do but often traders don’t do
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