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AAPL, DAL & SIRI

June 2017 is over. What better time then at the end of a month to take a look at some monthly candlestick charts. All of the below charts are 5 year monthly candlestick charts to review the longer-term trend for each. I will also be posting some updates in the Idea Chamber over the holiday weekend, so be certain to subscribe to your favorite forum topic.

This long-term trend review is for AAPL, DAL & SIRI. Let’s get started!

Apple (AAPL)

Apple (AAPL) had its first slow-down in its long-term buying momentum in June 2017 according to the MACD Histogram. It also developed a Bearish Engulfing candlestick pattern for June on selling volume that was greater than the previous month’s volume. That indicates that AAPL’s trend is over or “nearly over”. Nearly over is the case IMO for AAPL’s share price based on the progress of its Elliott Wave pattern.

Apple’s share price appears to be in Wave 4 of a Bullish Impulse wave pattern. If I’ve properly identified AAPL’s Elliott Wave pattern, then its share price has one more new all-time high to make before a longer consolidation period sets in.

The Bearish Engulfing candlestick pattern for June 2017 is a bearish reversal candlestick pattern. This candlestick seems to identify the start of Wave 4 in the Bullish Impulse wave pattern.

Wave 4 of a Bullish Impulse wave pattern is a corrective wave pattern, meaning there will be volatility and overall a correction in its price. Trendy Stock Chart members can read more about the characteristics of Bullish Impulse wave patterns in the members-only section for Elliott Waves.

The gray shaded boxes represent 2 different areas where[s2If !current_user_can(access_s2member_level1)]……

If you want to continue reading this article for Apple (AAPL) Delta Airlines (DAL and Sirius XM Holdings (SIRI), you must first login.

I look at some support areas to begin building a position in AAPL during its pullback.

If you are not a Trendy Stock Charts member, consider joining today! There are several different subscription plans available.[/s2If][s2If current_user_can(access_s2member_level1)] scale-in purchases could be made. The resistance area from the 2015 bearish candlestick patterns should now provide support. That support is right around the $133 price level. The $133 price level looks to be an excellent area to make a scale-in purchase and jump back in on AAPL’s uptrend.

If you make a scale-in purchase, I would then monitor the MACD Histogram on the monthly candlestick chart. When AAPL’s MACD Histogram approaches its zero mark on its monthly candlestick chart is when you will want exit the trade fully. There appears to be at 4-6 months of upside left after AAPL’s current pullback completes.

Upside price targets can be calculated better once Wave 4 completes and Wave 5 starts. The $175 price level looks to be a preliminary price target though.

Delta Airlines (DAL)

My previous full-length article for Delta Airlines (DAL) was titled “4/2/2017 – Delta Airlines (DAL) Stock Chart Follow-Up“. I identified a pullback area of $40.30 – $43.68 to purchase shares and go long for a probable breakout to the upside and new all-time highs. DAL ended up pulling back to $43.81 after that update.

DAL’s share price has broken above the resistance areas from the confluence of bearish candlestick patterns. That former resistance area should now provide for strong support around the $51.50 area. Look to purchase any pullbacks and jump on DAL’s breakout and uptrend.

The uptrend beginning in 2016 and the pullback that followed appear to be Wave 1 and 2 in a large Bullish Impulse wave pattern. That would make the current breakout Wave 3 in progress. Look for at least the 100% Target Line as an upside price target. The 161.8% Target Line has a high probability of being reached also before the end of 2017.

Sirius XM Holdings (SIRI)

This is a 10 year candlestick chart for Sirius XM Holdings (SIRI) to look at its continued progress towards the $7.44 price level.

The $5.87 price level may offer a trading opportunity to trim some shares and then repurchase them on a pullback from that area. Shorter-term charts should be monitored to verify the trade as there is a possibility for SIRI to push slightly above the $5.87 price level before a pullback ensues.

AAPL, DAL & SIRI

So do AAPL, DAL & SIRI deserve a spot in your portfolio? If so, then consider using part of the longer-term strategies identified above. The long-term charts for AAPL, DAL &  SIRI look bullish, but the degrees of bullishness seem to vary between the companies.

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