AAPL has been suffering these past years to make highs and keep afloat, performing sub par compared to the rest of the market.
We should keep an eye out for AAPL breaking supports, because if it does, a case for new lows may be made.
On the lower time frame, a minor trendline has been broken, rejected, and closed under, and we are currently between the strong levels 96.75 and 100.70. After successful retest of 96.75, AAPL lost momentum, and is currenly facing a possible double top on the hourly time frame.
If 98.1 is lost, i will short and we should reach 96.75 again. If price speeds past this area, then look for strong selling down to 95.6 area, where we should bounce back and retest 96.75 from below. if this fails, 88.15 and 84.85 are supports that may be reached.
On the flip side, if price pops over 100.75 and holds, I will look long, as it will retest resistance of 103 and most likely go for gap fill to 104.75
Let me know what you think
We should keep an eye out for AAPL breaking supports, because if it does, a case for new lows may be made.
On the lower time frame, a minor trendline has been broken, rejected, and closed under, and we are currently between the strong levels 96.75 and 100.70. After successful retest of 96.75, AAPL lost momentum, and is currenly facing a possible double top on the hourly time frame.
If 98.1 is lost, i will short and we should reach 96.75 again. If price speeds past this area, then look for strong selling down to 95.6 area, where we should bounce back and retest 96.75 from below. if this fails, 88.15 and 84.85 are supports that may be reached.
On the flip side, if price pops over 100.75 and holds, I will look long, as it will retest resistance of 103 and most likely go for gap fill to 104.75
Let me know what you think
Comment:
AAPL got a good initial break, but no follow through thus far under 96.75. be aware of the potential bullish channel forming, if AAPL opens strong tomorrow, I will take profit on some of shorts, and look for 98.75 area test
