Latest quote: (
What do you see here:
… or a falling wedge (bullish)?
I’m leaning towards the Head-and-Shoulders, because an ideal falling wedge would form after a downtrend. Falling wedge is a reversal pattern, and it’s the final drop before the bottom, with ever lower volatility producing smaller spikes, so this doesn’t qualify.
Anyway, I would never-ever bet on AAPL one way, and I think the best way to play this is a straddle. It’s a volatile stock, a straddle should produce good results, most of the time.
Not very steep, but a falling wedge nonetheless, typically means the price will rise. And according to the stochastics, there’s room to run, too.
While I’m waiting, I’m making money on writing covered calls.
Current price: (
I may have been too hasty selling AMD, as the volume and pattern confirm an imminent breakout, despite a short-term overbought condition.
Might have to chase it…
Out at $2.50 for $0.35 profit. Would like to re-enter at a lower level.