Bullish Pattern - Awaiting Breakout

30 Nov 2020

Hello fellow traders, Apple is undergoing consolidation in triangle pattern as illustrated in the chart. Since the preceding trend is up, the breakout of the triangle will likely be to the upside. Also, the 100DMA is supporting the price so far and market is showing sign of bottoming. Depending on your risk, stop loss can be set under $107 or more conservative $103. This is going to be 20%+ profit if the price breaks out as it can easily head towards $138.

Good luck friends :)

I am a professional trader with 8+ years of trading experience which includes stocks, commodities, cryptos and forex.

3 Dis 2020

Nota

Hope you got some shares before or just after the breakout. If so, consider taking some profits at $125 - $129 range and hold little more if you would like to $138. Overall, markets look bullish but always take some profits along the way.