I raised my stop-loss in my position on Apple (AAPL) to $554.95 while it was trading in the low $560’s. Soon thereafter I was stopped out on an intraday pullback (I made about 6% on a multi-day trade from $526). I wasn’t sure at that time, but now I’m much more confident that we will probably be seeing a pullback to $535 or so, before we see a legitimate push higher again.
That would mark a multi-support level for price and a logical area for limited risk and large upside.
Here’s the Apple Technical Analysis:
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