By Licia Leslie
January 19, 2025
Hi Shoppers,
Apple (Ticker: AAPL) has traded down to the bottom of the pitchfork and could be sporting a harami candle:
This could be our change in trend signal leading to a rally in AAPL.
As always we need to wait for the confirmation.
That would be AAPL opening and trading higher on Monday.
Personally, I will be waiting for AAPL to close over $134.50.
Now I know that is four and half dollars higher but trust me it will be worth it.
Not only will you have confirmation of the stock rallying but the implied volatility will come down with that move making your call options cheaper to buy.
This could become an even bigger longer term opportunity to own AAPL as it climbs its way back to the top of pitchfork at $260 by the end of February.
Trade accordingly.
Trade Review
Bitcoin (Ticker: BTCUSD) traded over the resistance and has rallied to just shy of $106,000. (This is written on Friday evening.)
This took ProShares Bitcoin ETF (Ticker: BITO) to gap open at $25 and trade up to $25.83. I think it has room to trade to $27.17.
We also got our move in Cameco Corporation (Ticker: CCJ) and made 87% on our calls. A close over $52.29 will take CCJ up to $55.88.
Thank You For Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
See what's hot at option pit
CAPITOL GAINS: SMR Aug16 7 call closed for a 150% gain
DELTA STRIKE: VLY Mar15 8 puts closed for a 88% gain
PFE May17 26 calls closed for a 66% win
OP MENTORING: SPY Mar22/19 510 put calendars and 520 calls for 6.4% gain
OPTION SHOPPER: ERX Mar28 65 calls closed for a 90% gain