How much longer can The QQQ rally without its underlying bredth.Since the end of November 2023 the QQQ has not gained any without the mag 7. The magnificent 7 have increased by 30%.
If you take out TSLA the MAG 6 has increased by 44%.
6 companies holding up the weight of index.
However, TSLA is looking quiet bullish. Mean while the QQQ's possible H&S bearish pattern.
This concentrated rally might continue further although the Question is, is this sustainable and if so for how long?
1AAPL trade ideas
Mag 7 BreakoutThe Mag 7 has been strong recently, pretty much carrying the entire market by itself. This will be important to watch, as long as the Mag 7 remains strong and in an uptrend, it's hard to argue against bulls. It had an ascending wedge which I deemed to be bearish, but now that it has broken to the upside, I have to be bullish until it falls back into the wedge. I'd expect the first retest of this wedge to provide some sort of bounce, so I'll be looking at the Mag 7 if that retest occurs and consider opening longs on any that are at or near support at the same time.
Apple Melt Up - Dont Fight ItI think Apple can push a 20% stock move from their recent AI announcement that kicked off on June 11. I don't think there's any appetite to sell or short when AI is melting up right now and now APPL joined the play. I think a move to $230 is reasonable. Breaking out of the 2 day flag pattern today.
15% envelope above 21 ma was last breached in the summer* of 2020. Would sell above that limit.
Apple's AI Breakout: How Much Higher Can it Go?
Apple’s (AAPL) share price surged to a record high last week, driven by the tech giant’s recent foray into generative artificial intelligence (AI). As investors celebrate this milestone, questions arise about how much higher Apple can go and whether this momentum is sustainable.
The Catalyst: Generative AI and iPhone Upgrade Cycle
The excitement behind Apple's rally was sparked by the announcement of its generative AI offerings. After a period of relative silence about its AI ambitions, Apple made a bold move, positioning itself alongside other tech giants like Microsoft and Google, who have already made substantial advancements in AI.
Generative AI has the potential to revolutionise various aspects of Apple’s product ecosystem. Imagine Siri with enhanced capabilities or hardware devices with significantly improved functionality. The market’s enthusiastic response reflects a belief that Apple’s AI initiatives could usher in a new era of innovation and revenue growth.
Adding to the surge is the potential for a significant iPhone upgrade cycle. With over 1.5 billion iPhone users worldwide, the introduction of new AI-powered features could trigger a massive wave of upgrades.
Historically, iPhone upgrades have been a substantial revenue driver for Apple. The integration of advanced AI features could entice current users to upgrade their devices, further solidifying Apple’s market position and driving financial performance.
The Breakout: Daily Candle Chart
Apple’s daily candle chart shows the significance of last week’s price action. The shares surged through a key area of resistance created by the highs that formed in July and December last year. The breakout was aligned with the stock’s multi-year uptrend and backed by strong volume. These two factors add weight to the theory that Apple’s AI-driven breakout is sustainable.
However, the Keltner Channels, which wrap a 2.25 ATR band around a 20-day exponential moving average (EMA), indicate that in the short-term Apple’s share price is over-extended. Apple’s breakout saw the shares race outside of the upper Keltner channel, creating the potential for prices to revert to the mean should buyers who bought during the breakout decide to take profits.
Given Apple’s long-term trend structure, we would expect the broken resistance zone to provide a key area of support moving forward. This structural level currently coincides with the 20-day EMA and may be targeted by trend continuation traders who are looking to time their entry into Apple’s powerful uptrend.
Past performance is not a reliable indicator of future results
Disclaimer: This is for information and learning purposes only. The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance. Social media channels are not relevant for UK residents.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.84% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
Navigating Investment Decisions with Tradingview: Apple exampleHello,
Investing and trading can easily scare participants in most cases. However, the different tools that Tradingview offers can make the work easier for you the investor. In this case I will be using a candlestick chart, a closer look at the price action, The date & price range tool, The vertical line tool and a combination of the financial data provided on the TV platform.
1st, My goal is to seek to understand the company. This can be done on the tradingview platform. This is very important because it builds a base on how the company makes its revenue as well as how its costs would look like. As per the platform.
tradingview.sweetlogin.com
Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific.
Investing is greatly an act of faith and understanding how the organization has performed in numbers is very key. Although this cannot be assurance that the company will keep performing that way in future, the Tradingview platform gives you a historical view of how the company has performed, its asset quality vs liabilities as well as the cashflow positions. The above for our specific company can be found here tradingview.sweetlogin.com
Once you have understood the story of the company and linked your narrative to the numbers, very key is to understand key upcoming events for the company and also how investors have reacted to the share price over a considerable period of time.
Our company apple has ranged between prices of USD 165 & USD 200. This is since July 2023. The company continues to be in a range for that period and is currently trading at around USD 168.45. This gives us a great entry price since the company's fundamentals remain quite strong. Using the date & range tool shows us that the company took 99 days to move from price USD 198 to USD 166. This represents an erosion of -16% but still a short opportunity. The company then took 51 days to move back to its top of USD 198 per share.
Just by merely looking at how fast the company is rising when it hits our bottom is great to show that the upwards momentum is stronger. Using this I shall be looking for buy opportunities from our current level with my target at the top.
The vertical line is very key in helping us know where we begin our analysis.
Very key also to bring into the analysis is the aspect of risk management which helps us set targets as well as identify areas where we need to exit our trades & relook at our analysis once again.
Conclusion:
Tradingview offers powerful tools that empower investors to make informed investment decisions. By leveraging features such as financial data analysis, market sentiment tracking, technical analysis, and risk management, investors can navigate the complex world of investing with confidence. Using Apple Inc. as a case study, we've demonstrated how Tradingview's tools can enhance investment strategies and drive success in the dynamic financial landscape.
AAPL next earningsAs of the last report, Apple's earnings are typically released quarterly. Here is a summary of the key highlights from Apple's most recent earnings report for Q3 FY 2023, which covers the fiscal quarter ending June 30, 2023:
Financial Metrics:
Revenue: Apple reported quarterly revenue of $81.8 billion, reflecting a 1% decline compared to the same quarter in the prior year.
Net Income: The company reported a net income of $19.88 billion for Q3 FY 2023, compared to $19.44 billion in the same quarter the previous year.
Earnings Per Share (EPS): Apple’s EPS for the quarter was $1.26, unchanged from the previous year.
Apple Next Target is Channel TopNow Apple Successfully Breakout above the Resistance level and Trading Within the Channel. Apple Next Target is the Channel Top.
Refer this image, Before Breakout the Resistance level.
I shared the Same Channel Pattern on TradingView for Bitcoin. Refer to this Images, showing Before and After the Target was Achieved.
The Channel is used to identified the Next Target (or) Next Impulse. Refer below
I want to help people Make Profit all over the "World". Additionally, I am Eager to Receive Money form Worldwide because of my Potential. Thank you
Triple Top Apple going down - ultimately a head and shouldersApple will pierce the 50 and go back to it's latest accumulation area due to coming out with nothing new besides a crappy calculator and hitching it's failing stock (Buffett sold) to the latest bubble fad: AI.
I see Apple ultimately failing because the future will get rid of free business models for "stake holders" - if Biden gets reelected because we will have DIGITALID after the election and CBDC's shortly after that. If Trump gets in we'll morph to a gold standard, and Apple will have one last gasp of an idea that completes the right shoulder before the global economy is lost to global depression because of The Great Reset which is unavoidable due to currencies being ticking time bombs due to the coming sovereign defaults.
This will ultimately push up the dollar to 160+ before imploding itself.
I don't see ANY reason to hold Apple here. Fear and Greed is turning on the Weekly and Greed is losing momentum, RSI turning down and MACD is forming a crossover soon.
I'd buy puts on this: September 130 going for .25, this will return 20x.
NOT FINANCIAL ADVICE
AAPL blasts to new ATH, heads up at $209 then 220 for pullbacksPart of my ongoing analysis, see links below.
Finally, a break of our 3 YEAR old resistance (see below).
WWDC event probably fueled the surge, albeit a day late.
Mapped are key resistances above, for possible pullbacks.
$ 208.26 - 209.53 is the immediate hurdle.
$ 218.76 - 220.68 is a more serious barrier.
$ 256.10 - 257.41 is next MAJOR resistance.
.
Previous posts covering AAPL (click):
- Genesis (from birth) Sequence
- $197 was targeted 3 Years ago
- $159 was the focus 2 yrs ago
- Exact map of ATH Resistance
.
I will post updates as price action progresses
=======================================================