I made a previous bearish AAPL thread based on it hitting a very fib dense area with impulse. Having overshot that area which is typical using long range fibs AAPL fell back into the fibs and looked like it might be in trouble.
But since then it has formed a strong V shaped recovery and although it is still in range, I would argue that the buying pressure coming in at the fib area outweighs the sell pressure from overshot fibs.
That area now appears to be support and as it is very dense in fibs I think it is an important landmark.
On that basis I am now neutral / bullish on AAPL currently and will watch to see if that area is threatened again. If not then I am bullish. If the fib area becomes resistance for any length of time really then I am very much bearish.
I'm not going to buy AAPL but it is a very useful reference point for the stock market as a whole also considering indexes and other the other FANG stocks.
Doom and gloom surround markets and there is a very big crash coming I think, but its important to read the chart before the news and the charts are green currently imo.
Will keep a close eye - the weather can change ofc.
Not advice.
But since then it has formed a strong V shaped recovery and although it is still in range, I would argue that the buying pressure coming in at the fib area outweighs the sell pressure from overshot fibs.
That area now appears to be support and as it is very dense in fibs I think it is an important landmark.
On that basis I am now neutral / bullish on AAPL currently and will watch to see if that area is threatened again. If not then I am bullish. If the fib area becomes resistance for any length of time really then I am very much bearish.
I'm not going to buy AAPL but it is a very useful reference point for the stock market as a whole also considering indexes and other the other FANG stocks.
Doom and gloom surround markets and there is a very big crash coming I think, but its important to read the chart before the news and the charts are green currently imo.
Will keep a close eye - the weather can change ofc.
Not advice.
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