CFD Trading 6 June 2019

Apple Inc Stock Code AAPL.NAS


Price managed to recover from the Fibonacci 62% of 2019’s rally. There is a possibility of this being the end of the correction and a price rally to follow but MACD is still strongly bearish. There are 2 strong resistances at $192.80; provided by the edge of the cloud and a previous gap resistance. Base line resistance is also near to this price. If price is unable to move above this resistance at $192.80, there is likely to be another test of the low at $169.50


$192.50 Sell
$169.60 Price Target
$198.80 Risk Management Stop
4 weeks Trade Duration

Garmin LTD Stock Code GRMN.NAS


Price reached a low of $76.01 and had stayed around the low for a few days. Two days ago, price broke above this consolidation zone and yesterday, price managed to hold above the consolidation. The low is also above the Fibonacci 50% of 2019’s rally. Price could have turned the corner especially with gap support at $75.39 providing support and MACD is turning higher. Although it is still in the bearish zone, MACD has a bullish divergence. First resistance is at $80.15 and if price can move above $83.32, we are looking at the previous high of $89.67 again.


$78.36 Buy
$89.65 Price Target
$74.80 Risk Management Stop
4 weeks Trade Duration

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