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A Beautiful Swing Trading Setup On Apple

Published 08/20/2014, 11:20 AM

Apple Inc. (NASDAQ:AAPL) just reached a new high. The exciting part of this, though, is that the opportunity could have been forecasted in a fairlystraight forward manner.

 Apple

  1. We have a clear uptrend; trend traders can thus look for opportunities to buy.
  2. Price pulled back to a support level, which coincided with the 50 SMA, and formed a candlestick pattern.

We thus have ample signs of an imminent reversal and a resumption of the primary uptrend. Targeting the recent highs of 99 would have been conservative; an even higher target price could have been identified.

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