Tuesday, September 27, 2011

AAPL Earnings Swing Play

This Daily chart of $AAPL shows a consolidation pattern forming.  A breakout to the upside I believe ill be coming in the next few days on IPhone announcement, barring any software or technical errors.  At which point I Believe $AAPL will trade within the boxes in the chart until the upcoming earnings call.  Which should move the stock price up in anticipation.  $AAPL will become a long swing when it breaks out above 422.85 (previous high).

My Trading Plan:  will go long on consolidation BO, bc I believe it will re-test highs : target 420.  Then it should consolidate within the green box before taking out previous highs in earnings move.

I am also LONG Oct. 22, 2011 395 @ 17.70 for earnings push.  Might let these expire, or cash out early.

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