Trading action
Last week, we were writing: “Our odds still favour a clear rebound, as anticipated at the beginning of the week, looking @ more hidden variables…”
& we had initiated 2 long positions on AAPL & INTC as the technology sector is expected to be leading in a bounce as the one developed since next week.
For safety, we close these positions with an average +3.5% net profit… We stay as observers now…
More on AAPL for David: on a weekly scale the clear rebound on the SMA80 is a positive trigger and the recent jump above the SMA40 confirms the positive bias… For medium term investors, there is no reason to sell & a stop below the level of the SMA40 would be a good protection. Check also the nice trigger given by the MACD: all this is quite positive for the next weeks, even if I am waiting for larger volumes to confirm the strength of the up move… If AAPL beats estimates on tomorrow Q1 publication, it could happen!
Our last trade on AAPL has been done on a much shorter time scale (the last candle on the plot below). At this time scale, indicators are a bit overbought & we prefer to take a gross +4% on this trade…
