Is Paul really looking to swing trade $AAPL?
I know that's the question on most Swing Trade Report members minds since I have not traded Apple even once this year. We trade volatile stocks, and $AAPL isn't the young upstart momentum trade anymore. That being said, I do pay close attention to Apple post earnings and going into the end of the year. That's when it often gifts us with fantastic setups, and that time is NOW!
Apple is on a gigantic run since putting in its 2016 low of $90.34 on May 12th. Since that time it's up a whopping 31%, putting in a high yesterday at $118.25 just before it reported earnings--an earnings report that was fantastic. We are talking blow out earnings. The type that sets the market rocking.
Unfortunately the market did not rock. Instead, Apple closed down 2.25 percent.
Makes no sense right?
This is called a "sell the news event" that makes investors go bonkers. It's also why we are traders, not investors. We don't care about the "event", only how price action reacts to the event.
Now with the event, aka earnings, out of the way, I am ready to pounce.
In today's video I go over exactly how I am looking to trade Apple in the next few days and weeks. We talk about key patterns, support levels and 6 different potential setups we are looking to trade. Those setups are:
- Gap down reversal (long)
- Gap fill reversal (long)
- Breakout (long)
- Trend pullback (long)
- Gap breakdown (short)
- Support breakdown (short)
Watch, learn and let me know what you think!
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