APLE almost a good buy
I believe APLE will rebound around 9.16/share.
The reason i think that is:
1. 9.16 is a very strong weekly support level.
2. 9.16 is 0.618 retracement level.
3. MA 100 level is there too.
4. RSI is oversold.
I'm being a bit aggressive and not waiting for a confirmation.
I put a long limit position at 9.63 (this is the minor retracement level), stop loss 7.66 (a bit below the lower end of the next trading range).
This is a 2:1 risk reward.
The reason i think that is:
1. 9.16 is a very strong weekly support level.
2. 9.16 is 0.618 retracement level.
3. MA 100 level is there too.
4. RSI is oversold.
I'm being a bit aggressive and not waiting for a confirmation.
I put a long limit position at 9.63 (this is the minor retracement level), stop loss 7.66 (a bit below the lower end of the next trading range).
This is a 2:1 risk reward.
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