Last week I posted about APPL showing signs of pulling back, but still being a tough read. As Report members know, I decided to short on the once it made a thrust to $170. Overbought conditions, distance from the 50 day moving average and a negative divergence in RSI made it a decent counter trend trade.
AAPL has now hit the first target. I have taken partial profits and moved my stop up to entry level. This effectively locks in a profit and let’s the rest “ride”.