Interval: H1
If we take a look on Apple Inc. (AAPL) chart we will see that it hit a good resistance zone. From 19th of April the price has gained almost 21%, rising from 382.60 low.
After this rally with no important correction there is a possibility for the price to be pulled back at least 38.2 Fibonacci retrace, which also coincide with a local support. Another indicator which signals a possible retrace is the 28 periods RSI. It went over the 70 level, and consolidated. A drop now under 66.20 on the RSI followed by a drop in price under $456 per share could be the confirmation we need to short the stocks for a 5% drop to $432 per share.
Confirmation Level: 455.60
Take Profit Level: 432.70
Stop Loss: 465.47
Trade Setup APPLE Inc. Looking for a 5% Drop by Razvan Mihai
