Apple Inc
Short

APPLE Looking For A Pullback

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Apple went for the measured move after extended pullback consolidation. Achieving measured moves is usually followed by another round of pullback consolidation. Though the trend is up, short sellers can also make money as the price action shows a broad channel up. Though short selling in uptrends is a risky business, it seems reasonable to sell short around closing price with stops slightly higher than the measured move's high and look for 2R-3R targets. Probability is lower but R:R is decent - worth a try.

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