AAPL daily - is in the down channel. I pop up as we assess it will last week and now AAPL is at resistance. It bounces to the resistance line, FIB 0.382 and it is going towards FIB 0.5. Also, there is a red falling trend line which will act as strong resistance plus there will be 50 days MA which will also act as resistance.
Volume is weak in comparison with the price movement which is bearish.
RSI is moving up and it still has space to go up furthermore.
MACD histogram is ticking up what is bullish, while MACD and signal line is still below zero line.
Overall: there is a high possibility AAPL is at end of going up. There is 3 strong resistance area ( FIB 0.5, falling red trend line, and 50 days MA) which will definitely act as strong resistance in trying to keep the price below. If AAPL is strong with a high volume above that area there will be a chance AAPL will move up further towards the upper trend line and BigRed or 200 days MA.
If AAPL doesn't break that area of resistance, it will form a BearPullBack pattern and would open the possibility for a nice short position.
Volume is weak in comparison with the price movement which is bearish.
RSI is moving up and it still has space to go up furthermore.
MACD histogram is ticking up what is bullish, while MACD and signal line is still below zero line.
Overall: there is a high possibility AAPL is at end of going up. There is 3 strong resistance area ( FIB 0.5, falling red trend line, and 50 days MA) which will definitely act as strong resistance in trying to keep the price below. If AAPL is strong with a high volume above that area there will be a chance AAPL will move up further towards the upper trend line and BigRed or 200 days MA.
If AAPL doesn't break that area of resistance, it will form a BearPullBack pattern and would open the possibility for a nice short position.
Consistency is the key of success....