AAPL Sep 22 TA – “Apple’s Breakout Run: Can 246 Hold the Lead?”
Apple Inc. BATS:AAPL
1️⃣ Big Picture on the 1-Hour Chart
* Price action: Apple closed near 245.70, powering through resistance with a strong run on Friday. Price is hugging the upper side of a rising channel after an explosive move from the 237 area.
* Key levels:
* Immediate resistance: 246–247.5 (top of the breakout zone and first call wall)
* Support: 241.2 → 237.5 (prior breakout level and channel midline)
* Indicators:
* MACD is sharply positive and still expanding, but getting extended.
* Stoch RSI is overbought (~94), signaling the stock might need a breather or a sideways pause before another push.
Momentum remains bullish, yet stretched. AAPL may digest gains before aiming higher.
2️⃣ GEX / Options Flow
* Strong put walls sit near 232.5 and 222.5, with a key HVL around 226.6 if a deeper pullback unfolds.
* IVR is 12.6—still low—so option premiums are relatively calm considering the rally.
This setup points to market makers likely holding AAPL in a 241–247.5 range early on. A strong breakout over 247.5 could push toward 250 and even 255 on momentum.
3️⃣ Trading Thoughts & Suggestions
* Scalp / day trade: Look for a clean hold above 246–247.5 with volume. If buyers step in, quick targets sit at 250 and 252–255.
* Support bounce: A healthy pullback to 241–242 that holds could offer a fresh entry for a swing back toward 246+.
* Fade setup: If the open can’t hold 246 and breaks below 241, watch for a deeper test toward 237.5.
4️⃣ Bottom Line
Apple ripped higher into the weekend and is now testing fresh highs. Bulls want to see 246 turn into solid support to keep the breakout alive. Bears are looking for a quick rejection and slide back into the 241 zone.
Disclaimer: This is just market opinion for educational discussion. It’s not financial advice. Always manage your own risk before trading.
source https://www.tradingview.com/chart/AAPL/foX1pEJ4-AAPL-Sep-22-TA-Apple-s-Breakout-Run-Can-246-Hold-the-Lead/
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