AAPL Reaching New Heights

I last posted on AAPL when price had cleared $140 back on April 3rd. Since then, price has continued its up trend, adding good profit to Dynamic Trader community members positions, many of whom have been in since price found support at $100.

Apple, as a brand name and whether you like them or hate them, are never far off from a topic of conversation. However, I have mentioned before that a good trader has no attachments to any brand names but instead looks to the charts to know whether a stock is worth placing risk on or not.

The stock of AAPL has been a top performer of mine in the past as we can see from the monthly time frame below. A history that suggests good trends means the odds of trends in the future are very likely. Trading is all about stacking the odds in our favour and which is why a history of 10 years or more is generally what I look for.

Crucially, price is now trading above $150 and I am now looking to enter into this stock with a view of seeing price move towards $200 and beyond.

The weekly timeframe below shows that price it trading above the 200sma giving price a bullish bias and hence why I am looking for long opportunities. The Dynamic Trader trend filter has been green since the end of last year suggesting that we have a bullish trend in progress too. The bias and the trend are in alignment.

The daily timeframe below shows price also trading above the 200sma and hence also giving price a bullish bias. The Dynamic Trader trend filter has also been predominantly green since the December of last year when price bounced off the 200sma.

There is strong alignment between the weekly and daily time frame and added to that the fact that price is trading above the key resistance-now-support of $150, this has met my criteria for a setup.

I will now test the waters with a small-risk position and if this then starts returning a profit, I will then add further positions accordingly to accelerate the profit phase.

The best techniques in trading are the simple ones. Learn how the markets move and adapt to them rather than operate from a point of ego and try and adapt the markets to you.

The former will help you exponentially grow multiple accounts while the latter will always leave you short chasing money.

Any questions or comments, please leave them below.

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