Big Shooting Star Action On Apple

TM Editorial Update: Many readers wrote in asking about the "mysterious 117.28 trade."  It turns out the trade did not happen. It was an artifact of the options market that looked as if someone had bought $1.26 million worth of Apple for 2% above market price. No such trade occurred. This phantom trade however was posted as Apple’s 52-week high on financial sites around the Web — including Google and Yahoo — where it still stands two days later and as a result, creating the illusion of a Shooting Star pattern.

Big A** Shooting Star candlestick pattern on Apple. It’s a reversal pattern. A big one. Let’s see if it sticks. (I actually had a hilarious alternate way to offer up this sentence, but I shall refrain).

1117-aapl

 

This blog is not, and have never been, investment advice. It is a place that allows me to express my own views on the market and specific securities – as well as make whatever cultural ...

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Joe Black 5 years ago Member's comment

The same thing happened few weeks ago range was 108-109... the high showed 110.3.

Danny Straus 5 years ago Member's comment

Oh yeah, what's the time stamp and volume??

Mike Nolan 5 years ago Member's comment

Time 10:28:39, quantity: 10800

John Fitch 5 years ago Member's comment

11K traded 2% above market does not a market make.

Mike Nolan 5 years ago Member's comment

No, the author is right. Look closer, it was a dark pool interaction.

Danny Straus 5 years ago Member's comment

Agreed, the author should fix this.

Joel Santiago 5 years ago Member's comment

Not sure where the 117.28 high printed from... I'm pretty sure it is an error.