“While Tuesday’s snowstorm and this week’s Federal Reserve meeting could disrupt markets, recent movement in the stock could be pointing to more upsides for Apple, according to Todd Gordon of TradingAnalysis.com,” Pei reports. “While a long-term chart of Apple shows that the tech giant has broken through “resistance” at $130, which Apple hit mid-2015, Gordon is more interested in one particular candlestick indicator from last week. Gordon is looking specifically at Apple’s trading day from March 9, when Apple slipped down to around $137 but then managed to regain its losses and close back around $139.”
“Gordon said Monday on CNBC, ‘That’s a sign of underlying strength,'” Pei reports. “To make a bullish trade, Gordon is buying the April 7 weekly 140-strike calls and selling the April 7 weekly 142-strike calls for a total of 73 cents, or $73 per options spread.”
Read more in the full article here.
MacDailyNews Take: Good luck, Todd! But, for long-term Apple investors, as Jim Cramer says, “Own it, don’t trade it.”