Hello traders and investors! Let’s study Apple today!
In the short-term, AAPL is engaged in a bull trend, and right now is doing a time correction, meaning that it is moving sideways, just waiting for the 21 ema to hit the price. This is different from a pullback, which the price hits the 21 ema.
Also, we might have a Breakaway Gap here, but it is too soon to say this. If the black line and 21 ema hold the price, Apple will defeat the green line at $ 115, and the next target for it would be the purple line at $ 118.
On the other hand, if AAPL loses both supports and fills this gap, it won’t be a Breakaway Gap after all, and a sharper correction may occur. Let’s look at the daily chart:
Ok, the purple line at $ 118 is still visible, which reinforces our view that it would be a good target in the short/mid-term. But the 21 ema is flat now, and the bias on the chart is quite bearish since the beginning of this month.
If Apple loses its supports in the hourly chart, and fill this gap, nothing will stop it from retesting again the $ 106 zone (black line). What’s more, AAPL tried to perform a bullish pattern in the last few days, but the volume didn’t confirm the trend.
We must see a clear reaction on Apple before jumping into any conclusions, but the green line in the hourly chart is a good start for the stock, if it has any hope of recovering its losses.
These are the most important points to keep in mind on AAPL, and if this idea helped you, please, support it! And follow me to keep in touch with my daily analyses! I share a few ideas with you all every day, and I’m sure you’ll find something interesting around here.
Have a great day!
In the short-term, AAPL is engaged in a bull trend, and right now is doing a time correction, meaning that it is moving sideways, just waiting for the 21 ema to hit the price. This is different from a pullback, which the price hits the 21 ema.
Also, we might have a Breakaway Gap here, but it is too soon to say this. If the black line and 21 ema hold the price, Apple will defeat the green line at $ 115, and the next target for it would be the purple line at $ 118.
On the other hand, if AAPL loses both supports and fills this gap, it won’t be a Breakaway Gap after all, and a sharper correction may occur. Let’s look at the daily chart:
Ok, the purple line at $ 118 is still visible, which reinforces our view that it would be a good target in the short/mid-term. But the 21 ema is flat now, and the bias on the chart is quite bearish since the beginning of this month.
If Apple loses its supports in the hourly chart, and fill this gap, nothing will stop it from retesting again the $ 106 zone (black line). What’s more, AAPL tried to perform a bullish pattern in the last few days, but the volume didn’t confirm the trend.
We must see a clear reaction on Apple before jumping into any conclusions, but the green line in the hourly chart is a good start for the stock, if it has any hope of recovering its losses.
These are the most important points to keep in mind on AAPL, and if this idea helped you, please, support it! And follow me to keep in touch with my daily analyses! I share a few ideas with you all every day, and I’m sure you’ll find something interesting around here.
Have a great day!
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👉 Join the 5%: thefinancehydra.com/
💲💲 Project 5%: + 104%
🔹 S&P500: +35%
💪 Public track record.