Chart of the day

Where do we stand fundamentally?

One of the biggest and long-time greatest investor in the world Warren Buffet exited his large position from AAPL recently. That might have lead to a recent sell off and also risk off that is being triggered in the market.

AAPL is bouncing from the LT upside support. For an extension higher in the fifth wave we need to see a break above 221 level. A break above this level can lead to an extension higher to 260-280 zone.

An invalidation level of a fifth wave long-term extension higher and a bullish cycle is 197. As said this extension higher could lead to 260-280 target in the medium-term to long-term upon a break above 221.

_{Try a long trade entry with a stop loss below 197 to target 245 and higher. You can trade with the options as well.}