APPLE 🟩🟨🟥 True Facts About Justin Bieber's Love of Apple
💬Apple closed some stores for COVID related reasons in some states, but it also opened stores due to re-openings in other states. That is sort of mixed news for Apple.
Meanwhile, the fear in the market over a bearish IMF report and some rising COVID cases is legitimate.
Overall, however, there is logic and reason to bet on Apple.
Apple just made a string of bullish announcements at their recent digital-only keynote and Apple's chart is generally very bullish and tends to respect support/resistance levels.
Let's take a look at some Apple levels that the bulls will need to deal with to keep this tech giant's bull run going.
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Help the community grow by giving us a follow 🐣
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Support:
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Summary:
There are two likely paths for Apple.
One path we see the bulls quickly take out the all-time high and then find support on top of previous resistance.
The other path we see a continuation down, likely after a rejection of R1.
The path downward becomes more likely if the virus fears ramp up, as without fear it is hard to see why investors aren't rushing back into Apple.
Resources:
www.cnbc.com/2020/06...ipados-software.html + www.cnn.com/2020/06/...c-outlook/index.html + www.npr.org/sections...heir-reopening-plans
✨Drop a comment asking for an update, we do NEW setups every day!✨
Meanwhile, the fear in the market over a bearish IMF report and some rising COVID cases is legitimate.
Overall, however, there is logic and reason to bet on Apple.
Apple just made a string of bullish announcements at their recent digital-only keynote and Apple's chart is generally very bullish and tends to respect support/resistance levels.
Let's take a look at some Apple levels that the bulls will need to deal with to keep this tech giant's bull run going.
Hit that 👍 button to show support for the content!
Help the community grow by giving us a follow 🐣
-----
Support:
- S1: The S1 S/R flip and pivot point is a logical place for the bulls to find support if they should need it.
- S2: The S2 orderblock is good backup support for the bulls. The market is a bit jittery right now, so it wouldn't be shocking to see a further correction and a reaction at S2.
- S3: Finally, the S3 S/R flip and price pivot point at the previous all-time high (ATH) range should hold if a more substantial correction ends up being needed. Apple has every reason to keep running, but no asset is immune to the eventual correction after a big run.
Resistance:
- R1: The R1 orderblock at the recent swing high and all-time high is the only identifiable level of resistance for Apple. As the only current level, it'll be important for the bulls to break this one and find support on top of it.
-----
Summary:
There are two likely paths for Apple.
One path we see the bulls quickly take out the all-time high and then find support on top of previous resistance.
The other path we see a continuation down, likely after a rejection of R1.
The path downward becomes more likely if the virus fears ramp up, as without fear it is hard to see why investors aren't rushing back into Apple.
Resources:
www.cnbc.com/2020/06...ipados-software.html + www.cnn.com/2020/06/...c-outlook/index.html + www.npr.org/sections...heir-reopening-plans
✨Drop a comment asking for an update, we do NEW setups every day!✨
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