Apple in a critical zone.

Tech usually moves together and alot of tech has this similar trend currently. Let's apply it to apple . Head and shoulders pattern that formed on the daily, and a break below the neck line, that triggered increased selling volume which has brought price action to a close below the 50 day moving average, typically a signal that trends could be changing short, and mid term. It is nearing oversold and typical metrics used would be the 30 signal, but a look back at apples price action shows that RSI has slipped lower to a low of 23 about 2 to 3 times in the past year, the most recent being February 2020. Long term this is an attractive buying zone, but the possibility the downward trend continues is 50/50 in my opinion at this point. Recent CEO sell offs of tech stocks started these downward trends with little upward strength, it's possible for apple to bottom out at the last gap zone area I have which is 98ish. Possibility for a lot of different types of trades on this one coming up, but apple needs to show upward strength this week with a continuation next week, it is critical in my opinion to signal a reversal towards newer highs and back into an uptrend.


Perfect idea
+1 Reply
king806 BakiShirzadi
@BakiShirzadi thank you
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