Since my last analysis, AAPL has been accumulating in the range between the red line at $ 136 and the black line at $ 137.98, and as long AAPL keeps there nothing interesting will happen. The link to my last analysis is below, as usual.
But even if Apple loses the red line, we have some support levels that could prevent from a further drop, like the purple trendline, which is better seen from the daily perspective:
In addition to the trendline, we have the 21 , so, we are talking about a solid support zone. Apple could easily drop to this level, as the volume is very low, and it is not showing any signs of reaction. But if AAPL defeats the $ 137;98 again, then it might retest the ATH again, and maybe do a quick stop at the $ 142 (previous resistance).
But so far, it is still in a bull trend, and only if it loses the purple trendline this would change. Either way, we’ll have our answer quickly, as this congestion is taking too long now.
Remember to follow me to keep in touch with my daily analyses, and please, support this idea if you liked it! Apple is in a decisive point, and we must be prepared to react to it, when the time comes. Techinical Analysis is all about timing!
Thank you very much!
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