Here is the Price Level to Watch ahead of Apple AAPL Earnings Today

Big stock Apple (AAPL) reports earnings today and we’re watching a critical price level to set up the next trade to play.

What’s the level and where do we go from here?  Let’s consult the chart:

Apple AAPL Earnings Support Chart Breakout Trade

Straight to the point, the critical price pivot level for Apple (AAPL) is $ 145 per share.

That’s a polarity level (it served as both resistance and support) and the rising 50 day EMA.

Note the Red/Green Highlight in the chart above – that’s your key short-term pivot.

A pivot means we don’t make predictions but instead play the DEPARTURE away from the pivot.

A bullish support trade triggers on a movement up away from $ 145 while a bearish breakdown (failed support) play triggers beneath $ 145.

A valid upside swing trade target is the prior swing high toward $ 155 while the bearish play targets $ 142 per share.

As you watch earnings and the immediate reaction – and the likely price gap we’ll see tomorrow morning – frame your trades in terms of the departure from this key swing trading level.

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Watching a Bullish Breakout in Apple AAPL Shares

Apple (AAPL) shares broke Thursday above a key price level, and we’re carefully watching what happens next.

Here’s the breakout and the Daily Chart levels:

Apple AAPL Bullish Breakout Trade

Buyers held support after a steep pullback (retracement) toward the $ 142.00 price level.

Note the yellow highlight and the positive divergence – with declining sell/bear volume.

That combination (in an ongoing uptrend) is often a precursor to a bounce and it sets up a support/rally play from a deeper (higher timeframe) retracement.

Price broke above the overlap (crossover) of the 20 and 50 day EMAs into $ 146.00.

Bullish traders may attempt to add to existing positions (bought off support) or put on a new buy position on the breakout.

Stops will be triggered beneath this pivot and certainly beneath $ 142 and $ 140.

Unless price turns and trades back beneath the EMAs – triggering a Bull Trap and failed breakout – we’re watching for additional upside action toward the $ 155 high in the near future.

Let’s see if that bullish pathway occurs in the ongoing bull market.

 

 

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Apple AAPL Surges with Surprise Breakout May 9

All seemed lost in the moments following Apple’s (AAPL) most recent earnings announcement.

Bearish projections were rampant as bears took a victory lap that share prices would finally collapse.

The problem is… they were completely, spectacularly wrong.

Here’s what happened next as the triple-timeframe uptrend continued and a “strong stock got stronger:”

First, know that our core strategy aims to find relative strength based on the principle that “stocks which are strong tend to get stronger.”

Apple – along with many technology stocks – remained persistently at the top of relative strength (uptrend) scans.

Buyers aggressively overtook sellers even after an initial negative reaction to earnings last week.

Still, price surged and performed a big breakout activity yesterday, extending price comfortably above $ 150.00.

Note the volume and momentum spike that occurred along with the breakout.

Higher prices remain favored due to the uptrend structure and new confirmation from volume.

Fun times, Apple investors!

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Apple AAPL Accelerates Trendline Rage through 140

Apple (AAPL) shares raged higher today with an acceleration gap through the $ 140 per share level.

After the break beyond the $ 127.50 target, buyers rapidly accelerated their activities, as we’ll see shortly.

Generally speaking, price never goes straight up or straight down.

Instead, we see retracements or swings build (construct) a trend in motion (higher or lower).

Buyers created an uptrend that reversed in 2015 to a short-lived downtrend that ended mid-2016.

From there, we’ve see a stable, reasonable uptrend develop from $ 90 to to $ 120.

However, once price achieved the $ 120 level, it was “time” for another simple, stable retracement lower.

When that didn’t happen, and price later broke $ 127.50’s target, buyers raged with all their might.  And won.

Today gives us the ninth week in a row straight up, or 11 up if you don’t count that little red week in December.

Here’s the Daily Chart and where we are with shares of Apple at the moment:

Again we see a stable, reasonable uptrend with visible swings and retracements.

We like to buy retracements (pullbacks) to rising trendlines or moving averages in strongly trending stocks.

However, February gave us a volume surge on a price breakout through $ 130.

From there, buyers haven’t given up any ground as both bulls AND bears (via stop-losses) aggressively buy shares.

Congratulations to the bold Apple bulls – your efforts were magnificently rewarded in this powerful stock.

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Apple AAPL Appears Back at the Highs Feb 1

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

Will the bulls keep making money by levitating this stock higher in a breakout?  Let’s see!

We see the strong uptrend that ended in early 2015 at the $ 130 per share level as negative divergences and distribution took price down toward $ 90.00 per share in early 2016.

Positive divergences and accumulation (active buying campaigns by large funds) reversed the downtrend through 2016 to where we are now at the beginning of 2017.

A bullish reaction to last night’s earnings served as a bullish catalyst to propel shares to the prior high.

The key here is to trade the departure away from the $ 130 pivot, be it a “fade” or immediate retracement lower to fill in part of the gap (see your Daily Chart) or else continue the bullish accumulation campaign through a breakout to new highs.

Ultimately, stocks which are strong tend to get stronger, and we would expect additional bullish action should buyers push Apple (AAPL) shares beyond the $ 130 pivot.

Focus on this level and formulate your trades based on what happens right here, right now.

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Apple AAPL Returns to the Swing Highs Dec 28

What’s going to happen next with big trending stock Apple (AAPL)?!

Let’s plot the Daily Chart and highlight the two trade plans for what happens next at the highs.

Apple (AAPL) surged from July to October, boosting price from $ 90.00 toward $ 120.00.

Price fell from a divergence at resistance near $ 118.00 per share which is exactly where price is right now.

You can build a simple, strategic trade based on the DEPARTURE from the $ 118.00 level.

Trades don’t have to be elegant or fancy; they just need to capture price movement.

When price retests a key level – like a prior high – bulls and bears (buyers and sellers) battle for dominance.

One side will win while one side will lose.

Instead of trying to PREDICT what’s going to happen here – all the fundamental or technical reasons why Apple HAS to breakout to new highs or collapse into a new bear market – why not keep it simple and join the winning side of the battle?

In this case, it looks like bears might win a short-term victory in the form of a pullback or retracement DOWN AWAY from the $ 118.00 level toward $ 114 or even $ 112 or perhaps lower.  That’s your bear “fade” pathway.

IF instead buyers overtake sellers and force a short-squeezed bullish breakout, join them; trade long on a breakout price pathway above $ 118 toward $ 120 or higher.

Simple right?

It’s harder in practice – use $ 118 as the basis for any trades in Apple right now.

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Back to a Key Pivot Point for Swing Trading Apple AAPL Nov 28

Does Apple (AAPL) go higher or lower from $ 110?  Build your next swing trade off this logic:

Apple shares logically tumbled from the $ 118.00 level on dual negative volume and momentum divergences.

Price extended itself away from the 200 day SMA (red line) and then collapsed back toward it in November.

At the moment, we’re seeing a rally “up away from” the 200 day SMA ($ 104) now back into the critical “midpoint” pivot.

It’s also a critical Bull/Bear (Buyer/Seller) reference level as you can see with the red and green arrows and prior turning points for the stock.

It was resistance twice and support once previously in 2016.

What’s going to happen now?  That’s where your trades come in!

A continued breakout above $ 112 suggests shares will rally back toward $ 118 (green zone) while a future breakdown beneath $ 110 suggests a bearish pathway instead will pull price back toward the 200 day SMA.

Don’t predict – plan and trade the immediate departure “away from” the $ 110 pivot.

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Updating Apple AAPL into Critical Target Support

Will Apple (AAPL) shares hold support at the current pivot or will sellers break price lower?

Get your trades ready and follow along with what happens here at $ 112.00 per share:

Apple (AAPL) shares resumed the higher timeframe UPTREND with a bullish reversal in May 2017.

From there, shares continued trading higher from the $ 90.00 key level toward the current $ 118.00 high.

A negative volume and momentum divergence in October set the stage for a high-probability pullback (see our “Perfect Pullback” Strategy) toward the rising 50 day EMA which overlapped the lower Bollinger Band at $ 112.00.

With that expected sell-swing retracement complete, we take profits on short positions and look to position to trade the immediate movement AWAY FROM $ 112.00 per share.

Should buyers once again step into the market, we’d trade a likely bullish rally off support to continue the uptrend.

However, a sudden bearish breakdown that continues through $ 110.00 opens the market for a steeper, short-term reversal opportunity through the “Open Air” pocket toward $ 104 per share.

Either way, get your trading fingers ready and trade the departure from $ 112 without bias.

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AAPL Poised for Positive Earnings Reaction

Apple reports Q3 earnings after the close of trading on Tuesday. Wall Street always gets excited when AAPL reports, because investors and detractors are extremely passionate about the potential of the company — positive or negative. All eyes will be on the “line items:” + iPhone 7 sales + Units shipped… Macs shipped… iPads shipped […]
Slope of Hope

Finally Seeing the Big Bullish Breakout for Apple AAPL

Apple (AAPL) showed impressive relative strength to the market this week and we’re seeing that bullish dominance continue with a breakout and birth of a new uptrend.

Here’s the Weekly Chart and the new bullish phase emerging for Apple (AAPL) shares:

For a bit of quick background, see my post “Apple Bucks the Bear Day” – which was our first major clue.

Correctly detected, we noted how strong shares were performing against a strong “second collapse” day.

We live by the statement “That which is Strong tends to get STRONGER.”

Strong stocks tend to see more bullish gains and Apple is a great recent example of that concept.

What now?

We’re seeing price break above a blue trendline into August and then retest this trendline into September.

This week we’re seeing a new swing high and thus the birth of a NEW Uptrend into late 2016.

Focus on the $ 110 level and as long as price continues to move “up away from” this pivot, we could see further action through the open air zone toward the $ 120 high and possibly (eventually) toward the $ 130 high.

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Corey Rosenbloom, CMT

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Apple AAPL Bullishly Bucks the Bear Day Sept 13

In a surprising move, Apple (AAPL) shares defied the broader market collapse today with a big bullish surge.

On big sell-days like this, it’s helpful to find a strong stock bucking the trend.

Here’s Apple fighting the tide of selling of today’s bearish market:

Friday was a big down day and Monday was a big up day (bounce) just like the broader stock market.

Today is unique for Apple (AAPL) because the stock market is crashing back to the lows while Apple is surging back toward the highs.

This shows relative strength to the market in a big way and draws our attention to Apple shares.

We can see a short-term range between the $ 103 level and the $ 110 pivot.

Price burst straight up toward this target level this morning – and we’re seeing follow-through.

Apple (AAPL) would continue a bullish campaign with a breakout beyond the $ 110/$ 111 level.

Otherwise Apple shares don’t turn objectively bearish unless they’re beneath the $ 101.00 level.

Here’s a specific “Relative Strength” Chart of Apple to visualize its strength this morning:

Continue following this bearish-bucking stock for clues of additional strength relative to the market.

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