As Apple Inc (AAPL) continues to bounce higher, investors are getting more bullish. As a pro, I am becoming more aware of the risks as Apple gets near-term overbought. I am starting to see the profit potential of short levels on Apple. The sell short level on Apple begins when it tags $293.00. There is a key gap fill at that spot and will have retraced about 75% of the down-move at that price.
The sell short level on Apple begins at the $293.00 level but has an additional add price if it tags second target of $312.75. This would be where I add my second half of the short position (if needed). While the odds of it getting to $293.00 are somewhat low, smart pros leave that room to add to protect themselves. Note the chart below.
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