AAPL looks to be consolidating after the previous leg up and is approaching its weekly trendline support. Over the past few weeks it has put in a possible double top along with a divergence in the RSI so that is something to be cautious of. However, I believe that it will continue the uptrend once it finds support at the weekly trendline since a trend in motion is more likely to stay in motion. I will be watching it closely and looking for signs of continuation.
Pros/Cons Summary
Pros:
- Approaching weekly trendline support
- Trading with the overall trend
- showing strength by consolidating after the previous move up (1/19 - 2/23)
Cons:
-Possible double top
-RSI divergence
Pros/Cons Summary
Pros:
- Approaching weekly trendline support
- Trading with the overall trend
- showing strength by consolidating after the previous move up (1/19 - 2/23)
Cons:
-Possible double top
-RSI divergence