Self Directed Investor Inc
SDI: "Empowering investors with ideas and education"
Symbol Lookup »  
Topics:ChinaETFsEarningsEconomyEnergyForexGoldIncomeLessonsIdeasTrading

  • Other news: News from PR Newswire
| More

Updating Apple AAPL Inflection and EMA Levels

Thu, Jan 10, 2:42 PM ET, by Corey Rosenbloom

After some volatile action, Apple (AAPL) prices have settled within a short-term trading range or descending triangle pattern.

Specifically, prices have bounced between a key support level and falling daily EMAs.

Let’s update our current Apple charts and note these short-term levels along with the Weekly Chart Fibonacci and potential targets should Apple break free from this range soon.

In our last update, I highlighted the EMA Compression and potential breakout levels from the late November 2012 push between the 20 and 50 EMA. Price stalled and reversed from the 50 EMA to retest the $500 key support level.

From there, price traded between the falling 50 day EMA and the horizontal $500 support line which leads us to our current compression level.

The key focal point on the Daily Chart – from a resistance standpoint – would be the $550 confluence of the falling 50d EMA, January swing high, and the upper Bollinger Band. Keep this in mind as you study the weekly chart below.

The key chart-based support level is the $500 ‘triple reversal candle’ bottom that has held (so far) from November to January.

While short-term traders can play price movement towards or away from these levels during the compression phase, other traders may decide to wait for a breakout from the current consolidation boundaries before putting on a new position.

A bullish breakthrough would likely trigger on a clean breakthrough above $550 while a bearish breakdown would trigger on a clean break – and close – under $500.

Let’s raise our perspective to the Weekly Chart to confirm these levels and note potential upside and downside breakout targets.

I drew two classic Fibonacci grids as labeled from the August 2010 swing low and the June 2011 swing low to the September 2012 high into $701 per share.

The purpose here is to find potential confluences or overlap in the Fibonacci levels.

In terms of the Fibonacci grid, price has recently been consolidating between the 38.2% level of the larger grid and the 50% retracement of the short-term grid.

Price found resistance into the 38.2% level of the short-term grid into $550.

I mentioned the $550 level on the Daily Chart, and we can see from the Weekly Chart that we have two more indicators to align at this level: The falling 50 week EMA and the 38.2% short-term Fiboncci grid from 2011.

What levels are important from the Weekly Chart?

Once again we note the $500 support confluence and any breakdown here could lead to a sell-swing toward the loose Fibonacci confluence near the $460 per share level.

An upside breakthrough above $550 would clear the confluence resistance barrier and could suggest a continuation at least to $600, and a breakthrough above $600 would be a clear bullish reversal (late) confirmation signal.

Once again, short-term traders can play between the $500 and compressing $550 boundary (though watch the immediate 20d EMA at $530 first) while others can wait for a breakout above $550 or beneath $500 to try for a breakout play toward the weekly chart Fibonacci levels.

Be safe and monitor real-time developments with these key pivot levels on the Daily and Weekly Charts.

Corey Rosenbloom, CMT
Afraid to Trade.com

Follow Corey on Twitter: http://twitter.com/afraidtotrade

Corey's new book The Complete Trading Course (Wiley Finance) is now available!

blog.afraidtotrade.com


SDI Glossary: "price" Definition
SDI Glossary: "Finance" Definition
This Article's Word Cloud:   Apple   Chart   Corey   Daily   Fibonacci   Once   Price   Weekly   above   afraidtotrade   again   between   breakout   breakthrough   bullish   chart   clear   confluence   current   falling   from   grid   have   into   late   level   levels   note   play   potential   price   prices   push   resistance   reversal   share   short   support   swing   targets   term   these   this   toward   traders   trigger   update   wait   while   would

| More

Ten Years Since the Biggest VIX Spike Ever
Mon, Feb 27, 3:51 PM ET, by Bill Luby

Ten years ago today, we witnessed that largest one-day VIX spikein the nearly three decade ...

The VIX Summit: CBOE RMC (March 8-10 in Dana Point, CA)
Sun, Feb 26, 3:11 PM ET, by Bill Luby

I often get asked about where to go to learn more about the VIX and ...

Clustering of Volatility Spikes
Sun, Feb 26, 2:11 PM ET, by Bill Luby

Last week, my Putting Low Stock Volatility to Good Use (Guest Columnist at Barron's) triggered ...

Defensive Gold and Treasuries Bullishly Break Resistance
Fri, Feb 24, 12:11 PM ET, by Corey Rosenbloom

File this under “very interesting” – defensive markets Gold and Treasuries just reversed higher. If ...

Sharp Down but Fast Up Emini Pullback Update Feb 24
Fri, Feb 24, 11:31 AM ET, by Corey Rosenbloom

And the plot thickens! Stocks pulled back for a second time this morning, gapping lower ...

Super Down for L Brands New Breakdown Low
Thu, Feb 23, 2:51 PM ET, by Corey Rosenbloom

“Stocks which are weak and downtrending tend to get weaker and go lower.” That’s precisely ...

How Other Markets Behaved while Stocks Surged Feb 22
Wed, Feb 22, 2:11 PM ET, by Corey Rosenbloom

It’s easy to be distracted by shiny objects, like the non-stop stock market rally since ...

New Highs as Far as the Eye Can See (for now) Feb 22
Wed, Feb 22, 11:21 AM ET, by Corey Rosenbloom

It’s rare to see broad market impulses this strong and persistent but yet here we ...

SPX 1, 2 and 3-Year Returns Following Top and Bottom Five (and Ten) VIX Average Annual Readings
Tue, Feb 21, 8:11 AM ET, by Bill Luby

On Saturday, I posted Putting Low Stock Volatility to Good Use (Guest Columnist at Barron's) ...

Putting Low Stock Volatility to Good Use (Guest Columnist at Barron's)
Sat, Feb 18, 5:21 PM ET, by Bill Luby

With spring training just getting underway in Florida and Arizona, I think it is appropriate ...

March Class Special: Detecting Tradable Setups and Reliable Signals with Corey
Thu, Feb 16, 12:11 PM ET, by Corey Rosenbloom

I’m excited to announce an upcoming full-month of classes and actionable trader education for you ...

We Forgot what a Pullback Was Market Update Feb 16
Thu, Feb 16, 11:11 AM ET, by Corey Rosenbloom

Wait – what is this? Price can actually go DOWN? After the last five days, ...

Bulls Still Dominate the Highs Feb 15
Wed, Feb 15, 1:31 PM ET, by Corey Rosenbloom

The uptrend continues! And continues… and continues. And still continues even after yesterday’s pullback. ...

Six Stellar Stocks Shooting Straight Up Nine Days in a Row
Tue, Feb 14, 8:31 PM ET, by Corey Rosenbloom

When we scan for stocks, we like to find “strong stocks getting stronger.” One way ...

Market Internals and the New Pullback from the Highs Feb 14
Tue, Feb 14, 11:41 AM ET, by Corey Rosenbloom

The uptrend continues! And continues… and continues. Until today’s pullback at least. ...

New Introduction to the Wave Principle Video
Fri, Feb 10, 5:51 PM ET, by Corey Rosenbloom

If you’ve never heard of the Elliott Wave Principle, or want a quick intro-level refresher, ...

Time for a Longer Timeframe Bounce for Coca Cola KO
Fri, Feb 10, 10:11 AM ET, by Corey Rosenbloom

Let’s see if buyers can take advantage of a long term rising trendline for Coca-Cola ...

Tesla TSLA Surges with Market on Break to New Highs (but Watch the Weekly Chart)
Thu, Feb 9, 3:41 PM ET, by Corey Rosenbloom

Tesla (TSLA) shares continued their strong uptrend, breaking out to a new swing high this ...

Breaking Out to New Highs Feb 9
Thu, Feb 9, 12:21 PM ET, by Corey Rosenbloom

The uptrend continues! And continues… and continues. Today we’re seeing another breakout to new highs ...

Gilead Sciences GILD Collapses to Keep Steep Downtrend in Motion
Wed, Feb 8, 4:11 PM ET, by Corey Rosenbloom

“Strong Stocks Keep Getting Stronger while Weak Stocks Keep Getting Weaker.” Gilead Sciences reminds us ...

Keeping the Range Going at the Highs Feb 8
Wed, Feb 8, 12:51 PM ET, by Corey Rosenbloom

We’re seeing a series of small ranges develop in the @ES Emini. Today gave us ...

Pullback Planning for Disney DIS Ahead of Earnings
Tue, Feb 7, 3:11 PM ET, by Corey Rosenbloom

Disney (DIS) reports earnings after the closing bell today. Let’s study the set-up – a ...

Strong Stock Getting Stronger NVDA Rallies its Way Back to the Highs
Mon, Feb 6, 1:41 PM ET, by Corey Rosenbloom

Each week for members, I publish the results of a “Strong Stock Getting Stronger” stock ...

After a Nice Bear Flag BIDU Triggers a Bull Flag Breakout
Mon, Feb 6, 12:31 PM ET, by Corey Rosenbloom

If you like trading Bull and Bear Flags as I do, you’ll probably want to ...

Emini Pulling Back from the Highs Trade Planning Feb 6
Mon, Feb 6, 12:11 PM ET, by Corey Rosenbloom

Last week’s breakout sent the market back toward the prior high. However, this morning we’re ...

Market Surging Back to the Highs Update Feb 3
Fri, Feb 3, 12:51 PM ET, by Corey Rosenbloom

Jobs Jobs Jobs! A positive reaction to this morning’s monthly Jobs Report sent the market ...

Bouncing Between the New Range Emini Update Feb 2
Thu, Feb 2, 12:21 PM ET, by Corey Rosenbloom

The range is back! And we didn’t miss it at all. We’re seeing price bounce ...

Apple AAPL Appears Back at the Highs Feb 1
Wed, Feb 1, 1:31 PM ET, by Corey Rosenbloom

Just like that, Apple (AAPL) shares surged toward the price highs of early 2016. Will ...

February Fed Day Fibonacci Bouncing Update Feb 1
Wed, Feb 1, 12:41 PM ET, by Corey Rosenbloom

We’re using two Fibonacci Grids for planning trades in the intraday Emini as noted. Price ...

Day Two of Market Crashing to Support Jan 31
Tue, Jan 31, 12:31 PM ET, by Corey Rosenbloom

From the negative divergences in an overextended market, a pullback was precisely the expected future. ...

Swinging Toward and Away from the 20 Day EMA
Mon, Jan 30, 3:41 PM ET, by Corey Rosenbloom

When setting up your trades, it’s helpful to put them within the context of the ...

Crash Goes the Market to Lower Targets Jan 30
Mon, Jan 30, 1:11 PM ET, by Corey Rosenbloom

From the negative divergences in an overextended market, a pullback was precisely the expected future. ...

Four Market Money Flow during the Stock Market Surge Jan 27
Fri, Jan 27, 2:11 PM ET, by Corey Rosenbloom

We know that US Stocks surged to new all-time highs this week as the Dow ...

Pullback in Progress Market Update Jan 27
Fri, Jan 27, 12:51 PM ET, by Corey Rosenbloom

Down from the highs we go! At least temporarily. Yesterday we looked at our negative ...

Stepping Inside the Breakout with Internals Update Jan 25
Thu, Jan 26, 12:21 PM ET, by Corey Rosenbloom

How high will this breakout travel? Let’s take a moment to look beneath price to ...

The Breakout is Finally Happening Jan 25 Update
Wed, Jan 25, 11:21 AM ET, by Corey Rosenbloom

The market just became exciting again! After a month in a well-defined sideways trading range, ...

Comparing Creeper Uptrends Intraday Jan 24
Tue, Jan 24, 1:41 PM ET, by Corey Rosenbloom

Nobody wants to be a “Creeper” but as traders we certainty do enjoy “creeper” intraday ...

From the Low to the High of the Trading Range Jan 24
Tue, Jan 24, 12:51 PM ET, by Corey Rosenbloom

Trading the market is extraordinary easy right now – buy when price touches the lower ...

The Range is All that Matters Right Now Jan 23
Mon, Jan 23, 12:51 PM ET, by Corey Rosenbloom

Stop what you’re doing and look at the trading range. Now. ...

Pondering a Perfect Pattern Repeat for Market at the Highs
Fri, Jan 20, 1:21 PM ET, by Corey Rosenbloom

A major part of technical analysis (charting) is identifying prior patterns – and their outcomes ...

This is a Very Tight Range for Traders Emini Jan 20
Fri, Jan 20, 1:11 PM ET, by Corey Rosenbloom

Stop what you’re doing and look at the trading range. Take off all indicators and ...

No Breakout Not Today Emini Trading Update Jan 19
Thu, Jan 19, 12:11 PM ET, by Corey Rosenbloom

My heart goes out to you if you excitedly decided 2017 was the year you ...

High Flying Financial Goldman Sachs GS Falls from the Highs
Wed, Jan 18, 1:21 PM ET, by Corey Rosenbloom

Stocks that are high-flyers run the risk of crashing back to earth. Goldman Sachs (GS) ...

Range Range Here to Stay Emini Update Jan 18
Wed, Jan 18, 1:11 PM ET, by Corey Rosenbloom

If you’re ready for this trading range at the highs to end, you’re not alone. ...

Emini Down from the Highs Still within the Range Jan 17
Tue, Jan 17, 11:31 AM ET, by Corey Rosenbloom

In the battle for market dominance we still DON’T have a winner! Bulls? Bears? Still ...

Still Range Trading at the Highs January 13 Update
Fri, Jan 13, 1:21 PM ET, by Corey Rosenbloom

In the battle for market dominance we still DON’T have a winner! Bulls? Bears? Nada. ...

Volatility Returns to the Emini January 12
Thu, Jan 12, 1:31 PM ET, by Corey Rosenbloom

Buyers and sellers continue to struggle for dominance at the highs and right now neither ...

From the Highs Back to our First Fibonacci Level Jan 11
Wed, Jan 11, 2:11 PM ET, by Corey Rosenbloom

I always find it fascinating when price does exactly what it’s supposed to do – ...

Crude Oil Crushes Lower as Expected from Divergences
Tue, Jan 10, 6:51 PM ET, by Corey Rosenbloom

Crude Oil gives us a textbook example of a reversal pattern – with negative divergences ...

Hey Look at that Emini Range January 10
Tue, Jan 10, 3:11 PM ET, by Corey Rosenbloom

Bull Trap? Breakout? Both bulls and bears and fighting for dominance… and neither side is ...

  More articles:  1 2 3 4 5 6 7 next »

ABOUT US »   ADVERTISE »   CONTACT US »   TERMS OF USE & PRIVACY POLICY »

Updating Apple AAPL Inflection and EMA Levels | Self Directed Investor | Copyright © 2008 - 2017, All Rights Reserved

Any ideas and opinions presented in Self Directed Investor content are for informational and educational purposes only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners. In no way should any content contained herein be interpreted to represent trading or investment advice. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All site visitors agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.

SDI is associated with: ValueForum.com -- a subscription-based online social networking forum of serious individual investors. | MarketNewsVideo.com -- videos appearing on SDI are produced by Market News Video. | TickerTech.com -- stock quote content appearing on SDI is at least 20 minutes delayed and is powered by Ticker Technologies. | GoldStockStrategist.com -- Edited by Scott V. Nystrom, PhD, Gold Stock Strategist provides analysis on gold mining companies.