Pattern Opportunity – Long Apple (APPL)
POWER OF THE PATTERN EXAMPLE
OPPORTUNITY IN APPLE (AAPL)
PATTERN OPPORTUNITY TO LONG APPLE (APPLE) SHARED: 6/28/13
Suggested members buy apple based on three patterns:
Potential double bottom – on a falling support line – potential breakout of a bullish falling wedge.
Suggested to sell some of Apple holdings given it was kissing the underside of resistance (left chart) and up against a falling resistance line and (right chart). Equally we wanted to remain positioned for a breakout that looked to be taking place
Suggested to raise stops on Apple and look for resistance to come into play at Fib 23% resistance near $460.
Now at resistance, looked to adjust stops in case of a another breakout
Breakout took place and Apple moved straight up to key resistance where I suggested harvesting remaining shares for a gain near 25% from our initial buy at $402.
I hope this example provides helpful insight into how I attempt to find quality patterns for members on a daily basis.
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