Hello traders and investors! Let’s see how AAPL is doing today!
First, AAPL confirmed a bullish structure, and it has been doing higher highs/lows in the 1h chart. However, it just hit a possible resistance point at the $ 171 (blue line).
This resistance might be enough to make AAPL correct, but as long as it doesn’t trigger any bearish structure, the short-term bullish bias will persist. I think the 21 ema is a good support level for AAPL right now.
It is good to see AAPL breaking its previous resistance in the daily chart. First, we broke the 38.2% retracement, and then, the 21 ema. This reinforces our bullish thesis.
As I mentioned in our last analysis, the next technical target is the next gap at $ 174 (yellow square). As long as it keeps doing higher highs/lows in the 1h chart, and stays above its 21 ema in the 1h chart, the bullish bias will persist. I also mentioned that the false breakout of the 50% retracement was just a bear trap. The link to my last public analysis on AAPL is below this post.
Let’s keep our eyes open at this resistance at $ 171 for now. I’ll keep you guys updated, so remember to follow me to keep in touch with my daily analyses.