AAPL Breakout
AAPL broke out today on strong volume closing the day in 127s. The current leg should have an upside till 130s before a meaningful pullback. Any pullback in the zone 120-124 should be a buy signal to retest all-time-highs within the next 4-6 weeks. Look to buy short-term at-the-money calls or medium-term out-of-money calls on the dip.
Bears had a good opportunity in FB today while flirting with the channel bottom but instead reclaimed 50 day MA for close. The failed peek below the channel bottom should provide some fuel for a quick move up to 285s. Look to buy short term calls on a dip into 270-73.
As discussed previously, GOOGL is digesting the breakout albeit slowly. Keeping the same bias, look to buy GOOGL 1700-1720 for intraday or longer term.``
AMZN still stuck in range as discussed previously. Range bound fading the move on either side in AMZN has been working well for weeks. AMZN failed to reclaim 50 Day Moving Average the last 2 days. 3230-50 still a resistance zone on daily timeframes. Intraday, 3190-3205 is another zone to fade the move.