With the Emergency FED rate cut failing to produce a reaction to the market and the Coronavirus headlines continually introducing fear, this bounce into solid resistance will likely produce a sharp reversal to the downside. With expanded volatility and a cluster of stops likely below the 2/28 lows, this could be a very swift move to $230 by 3/13, a massive 23% move. Low risk, high reward with a put option with a $290 strike.
Kommentera:
Looking like it's time for the next leg down in Apple. Earnings were not great, and Q2 outlook is weak. Recent selling in Tesla will have Apple shareholders (mainly retail investors) rethinking their position and consider taking profits from recent lows. Apple will likely quickly retest and blow through the recent lows.