A Look At Apple Inc. (NASDAQ:AAPL) Daily and Intraday
On a intraday basis, it gapped down yesterday and bounced from recent low and round number $80. It then went on to re-test it again, printing long lower tails on the 4th and 5th 15min bar, confirming support. It consolidated and broke out with the 12.45pm ET bar. That would be a good entry. With the Fibonacci placed between opening range low and previous day high, look to target 61.8% Fib and 50% Fib. If you did not exit at 50% Fib, a break below 5 min shooting star (not shown) at 2.10am ET would have you out of the trade as well with the downward sloping 50SMA (in orange) acting as substantial resistance. Trader Jamie has a good post here on how to place your Fibonacci for day trades.