Apple IncLong
4/8/21 - AAPL Forecast
AAPL is coming off a huge week after building some support and springing a bear trap.
Still believe it's in limbo at current state and we can expect a support test in coming days. First target of interest is $128, if it holds support and bounces that should be confirmation of $135-140 EPS. My main area of interest is 0.618 ($124.50). If this support is breached I suspect we'll see AAPL become bearish. Otherwise if strong support holds $135 is still the target for EPS.
I'm remaining bullish on AAPL going into late month considering the RSI convergence while it traded sideways and held following positive divergence. That said I'm waiting for confirmation at $128 or a new cap to be formed to open new option positions.
Still believe it's in limbo at current state and we can expect a support test in coming days. First target of interest is $128, if it holds support and bounces that should be confirmation of $135-140 EPS. My main area of interest is 0.618 ($124.50). If this support is breached I suspect we'll see AAPL become bearish. Otherwise if strong support holds $135 is still the target for EPS.
I'm remaining bullish on AAPL going into late month considering the RSI convergence while it traded sideways and held following positive divergence. That said I'm waiting for confirmation at $128 or a new cap to be formed to open new option positions.
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