$AAPL has taken out the Fib 50% retracement @ $425.00 instead of bouncing off here. A failure of a Fib support is as significant as a bounce off it. It may be too early to say that the 50% retracement fails at $425.00 when there are still time for $AAPL to bounce back up above that line. However, any further drowndraft away from the $425.00 line will signify a Fib 50% support failure.
I’ve initiated a small starter position (using stock and put option) based on this thesis and will see how it fairs by the end of day. If price comes back up above $425.00, I will cover and take my small losses.
My 2 cents.
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Stopped out of $AAPL (stock and put option) when price action broke out of the $425.00 to the upside. I’m long $AAPL stock now with a stop below $425.00.