Apple is a name I am currently daytrading short inside 12631. I might be out of the position by the time I publish this post (I already scaled some initial gains for cushion). But the main point here is the potential rising wedge breakdown on the 30-minute chart, below. The stock finally saw a rally with some legs since late-June.
But there is still, on the daily chart, a declining 50, 100, 150, and 200-day moving average all overhead.
If the stock can recapture $430 above it would have me thinking another leg higher in this rally is in the cards.
Earnings are scheduled for July 22nd.
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