Sorry I have not done a chart of the week for a few weeks. I was under the weather.
The boss says I had the flu… I have my doubts. lol
This Week’s Chart
This week’s Chart of the week is Apple (AAPL).
AAPL has done a classic Market Roadmap style move down to the orange line I call the “Roadmap Line.” (see the chart linked down below)
APPL has found support at this line now.
Interesting to note here is that we had a consolidation before we popped that most recent high.
Then on the way back down AAPL gapped right over that consolidation zone (highlighted with an orange box on the chart below.)
The couple days before that drop represent a resistance to clear before going higher, so the entry is above $195.
You could take a higher risk entry now, but we may find resistance at that gap fill since it was already a resistance zone for going higher before.
TLDR: (that’s shorthand for “Too Long, Didn’t Read” a.k.a. “To Make A Long Story Short: AAPL potential entry above $195. But the pattern breaks down on a move below $178 (below the recent low) <– That’s a good place to put a stop.
Conservative target is $199, and the regular target is $205.
PS> If you want more potential setups like this one every week, consider grabbing a subscription to my Market Roadmap program. Market Roadmap is my custom-built TradingView indicator that helps me spot many of the trades I post, including this one. If you’d like to grab Market Roadmap for yourself — and get access to some of my private Discord channels, too — just click here to pick it up for $5!
