Apple has a gap to be filled at $99.97 and a demand line starting from around $105.00 which may represent a fantastic buy zone.
This pattern holds a high probability of a bounce off this zone if the rest of the market can hold together over the 2020 election period.
One should be on the lookout for bullish divergence on the MACD and RSI after price retreats to these levels for potential buy signals.
Interim targets should see retests of price to around .382 to .618 Fibonacci extensions.
Conservative target is $130.00 at the .786 fib extension.
Final profit taking target is $147.00 (1.272 Fibonacci extension and estimated measured move which will become more accurate once price breaks out above supply line and gives us a reference area to measure from.
Considering the beautiful Google (GOOG) gap fill bounce on Friday, this trade is looking quite promising!
Good trading everyone :D
This pattern holds a high probability of a bounce off this zone if the rest of the market can hold together over the 2020 election period.
One should be on the lookout for bullish divergence on the MACD and RSI after price retreats to these levels for potential buy signals.
Interim targets should see retests of price to around .382 to .618 Fibonacci extensions.
Conservative target is $130.00 at the .786 fib extension.
Final profit taking target is $147.00 (1.272 Fibonacci extension and estimated measured move which will become more accurate once price breaks out above supply line and gives us a reference area to measure from.
Considering the beautiful Google (GOOG) gap fill bounce on Friday, this trade is looking quite promising!
Good trading everyone :D
