In the realm of technology, uttering the term "Artificial Intelligence" is akin to invoking the enchantment of "Open Sesame" from the fabled tale of Alibaba and the 40 thieves. It's a phrase that unlocks a trove of treasures, not in gold and jewels, but in staggering financial gains. Just recently, this magical incantation summoned a staggering $112 billion in a single day for Apple.
But the story doesn't end there. Will the riches continue to flow, reaching the coveted $180 mark? Without a doubt! The stock surged to a high of $178, only to be rebuffed by the steadfast 200-day Exponential Moving Average (EMA) on the daily chart. With a closing price of $176.5, the goal of $180 now sits tantalizingly close, a mere 2% away.
Reflecting on the past, the $168 level emerges as both a resistance and a support. Despite a brief dip below $168, the stock rebounded vigorously, hinting that Apple may have indeed found its footing. It could linger near the 200 EMA momentarily, gathering strength before propelling itself upwards.
As for my next move, am I considering entering the Apple fray now? Not quite. However, I'm eyeing an alternative strategy – selling put options at the $165 level. It's a calculated risk, a strategic maneuver to capitalize on potential price movements without committing to buying the stock outright.
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- VivianChua·04-15Nice 💚 💚 💚LikeReport