Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.
If 30-year resistance stopped Apple on a dime, could 30-year parallel support be a good place for Apple to stage a strong rally? Yes!
Apple hit its 30-year support line of late at (1), which held. Now Apple is up against a multi-month falling channel and its 50-SMA at the same time at (2).
Very unusual options activity is taking place in Apple (see below)
With this unusual option situation at hand and Apple at the top of its multi-month falling channel, a break of resistance could be very good for Apple!
For information about Kimble Charting Solutions, send an email to firstname.lastname@example.org.