Apple looking positive on the daily and 4 hr with strengthening MACD toward the positive. However... Both near overbought territory on RSI. 4hr MFI showing divergence.
ALSO, 1 and 2 hr RSI around 58. Both hit a resistance around 64. MACD on 1 & 2 weakening. 1hr MFI divergence. 2 hour ended slightly up.
3 day RSI overbought and weakening MACD. Weekly, MACD weakening slightly, RSI and MFI overbought.
I'm thinking unless some big news from Apple about Black Friday/Cyber Monday killing it or something just as good we're going down very soon. Could see a big draw back in the next week or so. Thinking 240-250. Closer to 240 would be back to base on Gann Fan.
ALSO, 1 and 2 hr RSI around 58. Both hit a resistance around 64. MACD on 1 & 2 weakening. 1hr MFI divergence. 2 hour ended slightly up.
3 day RSI overbought and weakening MACD. Weekly, MACD weakening slightly, RSI and MFI overbought.
I'm thinking unless some big news from Apple about Black Friday/Cyber Monday killing it or something just as good we're going down very soon. Could see a big draw back in the next week or so. Thinking 240-250. Closer to 240 would be back to base on Gann Fan.
Comment:
JP Morgan just upgraded Apple from $290 to $296. Prob gonna be a green day to put it further into overbought.