The Apple Short Trade Continues

The AAPL short trade is turning into a textbook example of the overbought and evening star candle setup. So what do we do from here?

Support may be found at the old pivot high, around $135. This would be a good area to exit shorts and possibily enter long.

However, longs should be wary of the distribution pattern that is forming. Take note of the tremendous pick up of volume during this downswing. I would not be surprised to see a small bounce or a retest of the recent high, creating a “double top”, followed by a strong down move.


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