$AAPL

May 6, 2013

$AAPL Major Bottoming Signals| Exploring Bullish Arguments [2 VIDEOS]

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Written by: Kay Kim
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Last Update: 5.16.13

 

5.6.13 Monday

 

Fall Back & Possible Inv. H&S Reversal

Watch it on 720p HD

 

5.16.13 Thursday

 

Rise or Fall | Next Couple Days is the Key

Watch it on 720p HD



About the Author

Kay Kim
Kay Kim
Kay Kim is a full time equity market options trader/investor, the Founder of TrueVine Capital, Inc. and the Owner/CFO of Lucky Klover, Inc. Kay has been involved with the market since 2007 with extensive research and development on technical analysis. Though Kay may not have 20+ years of experience, he makes it up with his in-depth technical analysis knowledge and long-term forecasts.




 
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13 comments
ncoldboy07
ncoldboy07

Hey Kay, What App do you use to draw on your charts. I love it =] 

Zex_M19
Zex_M19

Kay, old resistance, new support?

50 ema was a very tough nut to crack.

I was waiting for this to fall back.

Looks like it hit the 50 ema perfectly today.

50 ema = 442.16. Todays low = 442.15 !!!!

I got rid of my puts (barely made anything cause I was too impatient).

Now I look for entry to ride this back up towards WWDC in June.

I think 50 ema is a good start. then 430ish for a possible right shoulder (inverted H&S). then 420 for double bottom.

good luck!

dodger1k
dodger1k

The 100 EMA was strong resistance for Apple this week, backed off from it quite a bit during the course of the week, while the indices were markedly higher.  Just consolidating before another move higher, or is a retest of the lows appearing more likely?

Zex_M19
Zex_M19

Kay,

After I saw some resistance the other day near 460, I noticed that it hit the same price as the last high. Then I noticed a potential reverse head and shoulders. I was about to post my observation but then I noticed you already saw that and put it in your video. LOL! Except I thought 430 in april was the left shoulder instead of your 430 in march. Nevertheless it looks like we are seeing the same thing. But I have to see some event catalyst to support the technicals and...we have it!

Apple running up because of dividends (ex dividend date is tomorrow - thurs, so the last day to take that juicy dividend is if you buy apple shares today - wed). But we are seeing some resistance now that we are near the dividend date AND we just so happen to hit the 100ema at the same time. But there is nothing else going on afterwards (no news has been bad news for this stock) so that could cause this stock to pullback. Also could see profit taking after the big run up along with the fact that people already got their dividends so no reason to hold it for now. So what would cause it to come back in a few weeks to form that reverse head and shoulders? The WWDC event in June. Then we are in the summer months and rumors of new or updated devices will start swirling causing it to go higher. So futures events and the TIMING of those events seem to support the strong possibility for a reverse head and shoulder. I will be looking to buy some puts this week and will cover them when they get near 430. Then ride it back up. Since I am anticipating a move back up in June, I have no need to buy puts past June expiration. High risk, high reward.

One more item to support a more bullish stance in Apple is this: We have seen apple tank and keep going lower even as the market was being VERY bullish and making new highs. But now we are finally seeing apple move up ALONG with the market. FINALLY!

Your analysis was great and really helpful.

Thanks and good luck!

TraderEllen
TraderEllen

Kay, Great analysis as always! So I guess you are not in AAPL right now? I am not either. Have a great day!

2kaykim
2kaykim moderator

@Zex_M19 yea but i am not really digging the volume actio last three days.  and currently the gap area is becoming a resistance at $445 and after that 100SMA then $465. Without a volume spike to the upside, it won't be easy to break those levels.  I will be watching closely this week

2kaykim
2kaykim moderator

@ncoldboy07 I use Presentation Assistant for the drawing tool. Its a great lil tool~

Zex_M19
Zex_M19

Ouch! Only thinking about all the money I would have made if it didn't get out early. SIGH!

Uh well. I'm gonna chill and look into getting calls next week.

We have like 3 weeks before apple conference. Look at what Goog conference did fir it's stock yesterday and today!

Looking to start getting June monthly calls late next week and buy on any dips. We could break that 100ema by then. and then onwards to $500. but only if inverted H&S is confirmed. So far so good. Pullback was good sign for longs.

2kaykim
2kaykim moderator

@dodger1k well yes 100SMA is acting as resistance but if you look at the volume last 4 days, it has been declining and that tells me there isn;t lot of force of selling at 100SMA yet.   So one can actually look at the current daily chart as bullish flag, forming, under 100SMA but once bears claim 10EMA again and closing below that level, we can expect more selling to $420.  (10EMA is just $4 away)

2kaykim
2kaykim moderator

@Zex_M19 thnx bro and also for sharing your insight.  yea lets see how it plays out rest of the week. As of today, looks like it is holding up well.

2kaykim
2kaykim moderator

@Zex_M19 put up a new video. check it out. I think next couple days is the key here