Long

APPLE 3 Possible Scenarios

I see following possible scenarios:

1. (GREEN) Today was a perfect bounce off 15 EMA ~$105 on Weekly chart. Price could move higher to ~$135 using this strong historical support as a "trampoline"

2. (ORANGE) Today was a dead cat bounce witnessed on support weekly ~$105 support only for possible lower moves to $80-$90 support range in near future

3. (RED) Today was fake out and we continue downward slide to $80-90 support area.

I think scenario 1 is the most likely to play out and I have bought the recent dips. Of course anything can happen and that's why its important to manage risk and set stop losses.

Let me know what you guys think! Discussion and hearing other view point is great.

saransound

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