As discussed here yesterday, AAPL would likely attempt to retest resistance before it became a short candidate. I took advantage of its momentum in the morning after it retested support at $68.00 (support dates back to Feb. 14th and 15th). Trading off of the 5 minute chart, I took my position after the first bullish signal.N.B. - Today's close was much more bullish than previously anticipated. We have a bullish engulfing pattern on the daily and a close above the 20 day EMA. Consequently, I'm not looking to short AAPL at this time even though we have notable resistance overhead in the $72.00 area.
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