Apple IncLong
AAPL Breaks out above key level, but I won't buy here
AAPL this week breaks above the key $155 - $156 resistance level but there are couple of reasons why i would wait for a better entry
* Volume this week is low - not a good sign that supports a genuine up-move
* MACD and Strength are in divergence with price
* Macro / Market: This week's FED rate decision (and the reaction to it) will affect the market - especially the big names - across all sectors
So, we wait for a better entry - possibly when AAPL retraces back to (or below) the 20SMA line (the yellow line)
(Some fellow traders asked me for what indicators I use in my trading - these charts show one of the main setups I use. I know it is a bit crowded - and there's a "lighter" version that has only the MagicRibbon on top chart and the K-MACD as lower panel -- but I wanted to show the full setup here in case others find it useful. the indicators in this setup shows kind of a 360 view of all important elements that i would like to see: MA's / Trend / Momentum / Range / Relative Strength and volume -- and I also like to keep an eye on the Renko version)
- Please leave me a comment if I can answer any questions regarding this chart setup.
* Volume this week is low - not a good sign that supports a genuine up-move
* MACD and Strength are in divergence with price
* Macro / Market: This week's FED rate decision (and the reaction to it) will affect the market - especially the big names - across all sectors
So, we wait for a better entry - possibly when AAPL retraces back to (or below) the 20SMA line (the yellow line)
(Some fellow traders asked me for what indicators I use in my trading - these charts show one of the main setups I use. I know it is a bit crowded - and there's a "lighter" version that has only the MagicRibbon on top chart and the K-MACD as lower panel -- but I wanted to show the full setup here in case others find it useful. the indicators in this setup shows kind of a 360 view of all important elements that i would like to see: MA's / Trend / Momentum / Range / Relative Strength and volume -- and I also like to keep an eye on the Renko version)
- Please leave me a comment if I can answer any questions regarding this chart setup.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.