CLICK ON CHART TO ENLARGE
If 30-year resistance stopped Apple on a dime, could 30-year parallel support be a good place for Apple to stage a strong rally? Yes!
Apple hit its 30-year support line of late at (1), which held, now Apple is up against a multi-month falling channel and its 50-SMA at the same time at (2).
Very unusual options activity is taking place in Apple (see below)
CLICK ON CHART TO ENLARGE
With this unusual option situation at hand and Apple at the top of its multi-month falling channel….a break of resistance could be very good for Apple!
–
–
Belsha…Grrreat observation per the inverse relationship of Apple to the broad markets of late.
Good news for Apple is bad news for the markets? 😉 Stay tuned!
To everyones surprise, considering AAPL weighting, in recent months Apple has fallen hard while the general indexes rallyed just as hard. Could it now be possible that AAPL rallyes hard and indexes fall just as hard ?