Late Day Positive Catalyst B/O Play
Big Picture:
-Oct 4 $SPY gap up on better than expected jobs report numbers
-Sept 30 JPM reiterated Overweight rating targets 265
Intraday Fundamentals:
-Oct 4 $AAPL gap up on news that they are increasing production of iPhone 11 by 10% to meet with increasing demand
ATR 4.50
RVOL Elevated in premarket
Inst. Own 61.20%
Technical Analysis:
-Daily Chart resistance 226.42/228.22 30min chart resistance 226.75-227.13
-Daily Chart support 224.80-225.07/224.60/223.97-224.20
-$AAPL unable to advance past 226 after 1130am. However price kept getting held up
each time it tried to retreat to the VWAP.
Thesis:
-Given the positive catalyst and the overall market sentiment, I'm leaning towards
the bullish side.
-Uncertainty was created on the thesis because Price cannot advance past 226
-It's not a short IMO, however, because of the 226 resistance, it's also not a long
until proven otherwise.
-Wait for 226 to B/O and confirm to get long aiming for next level of resistance.
Video version here:
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-10-04 13:26:04 | AAPL | buy | $226.080 | long |
2019-10-04 13:42:50 | AAPL | buy | $226.200 | long |
2019-10-04 13:52:59 | AAPL | sell | $226.110 | long |
2019-10-04 14:07:10 | AAPL | buy | $226.470 | long |
2019-10-04 14:10:58 | AAPL | sell | $226.790 | long |
2019-10-04 14:13:37 | AAPL | sell | $226.820 | 0 |
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