vlad.adrian
Short

Apple ready for a reverseal?

BATS:AAPL   APPLE INC
442 6 3
It looks like Apple             is finishing the small rally, forming a daily shooting star, after reaching the head and shoulders target. The price went over the 38.2% fib drawn from the high last year, touched the big resistence* area, but retraced closing right at the fib line. Also, we can see in the rsi that the stock is oversold for the first time in the last two years. With all this factors in place, i think we can see a reverseal. A strong rally over the support zone will invalidate this setup.
Hit strong support at $465 forming a doji, next day makes a small move up. Position closed at 472$
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ivysoft
3 years ago
Your analysis was right on the money! Technical analysis really demands a calm thinking while staying away from biased like or dislike toward a production company. What do you think next?
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vlad.adrian PRO ivysoft
3 years ago
thank you! honestly i don't know what to say, i preffer to sit and watch for now. probably a consolidation period. I will post another chart these days.
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