Time To Hedge Longs By Shorting Apple (AAPL)?

For those are always long or long only in their strategies, it might be time to hedge with a technology stock short position. Perhaps Apple stock (AAPL).

For long/short managers, I like the risk/reward of shorting APPL with the stock price into an important MOB price target resistance band. Note as well that there is a momentum divergence.

The last MOB price target was slightly exceeded in January, but the price ended up turning within the black vertical timing bands.

This also lines up with our MFU-4 price target on the Nasdaq 100 (NDX) of 14970 which we highlighted in a report to clients this past week. The major index could be stalling out at its MFU-4 target. Short-term caution advised; hedging may be appropriate.

Apple Stock Chart Analysis

aapl stock trading sell signal price target hit chart image july 19

Nasdaq 100 Chart Analysis

nasdaq 100 index price targets analysis chart investing image july 19

The author or his firm have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

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