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.