AAPL shows multiple signs of a strong bull trend. Be careful when looking to buy lest you get caught in a retracement.
At the time of this writing, AAPL was trading at $222.98.
We will find resistance from levels from above including:
222.99 from volume profile over the past 14 periods 223.49 from highs and lows over the past 14 periods
We will find support from levels from below including the following:
222.48 from volume profile over the past 14 periods 221.89 from volume profile over the past 14 periods 220.55 from volume profile over the past 14 periods 219.20 from volume profile over the past 14 periods 218.70 from volume profile over the past 14 periods 218.02 from volume profile over the past 14 periods 217.10 from volume profile over the past 14 periods 216.43 from volume profile over the past 14 periods 215.40 from volume profile over the past 30 periods 213.85 from volume profile over the past 30 periods
Lets look at some technical analysis for AAPL. Volatility has narrowed a bit, but may continue more before a breakout. The RSI is 81, indicating that we are overbought. A bear pullback or trend reversal can be expected. The MACD is above the signal line, but not by too much, suggesting that we are in a bull trend which may continue. We are well above the 50 period SMA, which suggests that we are overbought. Also, AAPL is above the 100 period SMA by quite a bit, suggesting that we are overbought. Finally, the 50 period SMA is above the 100 period SMA, indicating longer term bullish confirmation. The ADX indicator reads 68, which is indicative of a strong bull trend.
How high before it corrects itself is the real question.
quantguy
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@CryptoeChris, we are right about at a Fibonacci extension at $227.63. We should at least face some resistance very soon.
CryptoeChris
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@quantguy, I wonder if this 227 price will last when Apple presents their new phone models. I only see green from there IF it goes well. But hopefully people start selling off at 230-235 and we can see a correction.
ecramer
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You sound like a trading program.
i think the juice is running out of the tank on this puppy.
quantguy
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@ecramer, I generate the technicals from scripts, but otherwise I do write them.