APPLE BULL SPREAD - oversold breakout

16 mar 2021

Here is some big tech-play.


1) Divergence in oversold territory

My Smooth RSI indicator absolutely in the oversold territory, some bullish divergence detected.



2) Momentum confirmed with volume

Some buy volume finaly arrived.



3) Parallel charting

I love parallel speed-, or trendlines on chart.
Now another breakout.



4) Not everything is an utopie

The dangerous resistance in background! Previous support could acting as resistance later!




CONCLUSION:

APPLE DEBIT BULL SPREAD

• Max profit: $64
  
• Probability of Profit: 70%
  
• Profit Target relative to my Buying Power: 27%
  
• Buy Power: 236$ (max loss without management)
  
• Max loss with my risk management: ~ 70$
  
• Tasty IVR: 18.8
  
• Expiry: 38 days
  
  
  

Buy 1 AAPL April23' 115 Call
Sell 1 AAPL April23' 118 Call
Long call spread for 2.36 debit



Stop/my risk management: Closing immediately if daily candle is closing below $117

Take profit strategy: I'm taking at the 50% of max.profit in this case with auto sell order. (at 2.68 credit)


If you liked this article, check my other ideas.

Anyway: HIT THE LIKE BUTTON BELOW, and for fresh ideas follow me : @mrAnonymCrypto on tradingview anyway!

Recommendation: thanks for Csemez to pointing on this trade!

5 apr 2021

Trade chiuso: obiettivo raggiunto

Success, 32$ profit grabbed.