Hello traders and investors! Let’s talk about Apple today!
Yes, we are having a sell-off this Wednesday, but AAPL is quite resilient! It is trading above the $ 137.98, which was our target since last month (you may check my analysis from Dec 16 in the link below).
It’ll report earnings after the market closes today, and this may bring some volatility, which is a good thing.
We have a Pennant chart pattern in the hourly chart, and usually this is a continuation pattern. What’s more, we have the 21 ema supporting the price, and as long as AAPL doesn’t trigger this Pennant downwards and lose this 21 ema, the stock will continue climbing.
Now let’s look at the daily chart for more clues:
If AAPL loses the supports mentioned above, then the black line at $ 137.98 will be a natural target for a short-term bear trend, and a good support candidate, according to the Principle of Polarity of Technical Analysis.
But we must wait for more confirmation, and remember that we may see some volatility tomorrow, and that’s good, as usually it brings opportunities.
Let’s monitor AAPL closely, and if you like this analysis, follow me to keep in touch with my daily studies, and please, support this idea!
Analysis aside, any personal takes on AAPL prior to earnings call? Do you expect a MSFT type reaction as well today? Just testing your gut feeling here . ... 😊
Nathan_Black
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@sipiceanu, Hey there! Nice to see you around here again :).
I'm sorry to disappoint you, but I have no such thing as "gut feeling" (ok, sometimes I have, but most of the time, no). This would mean I'm attempting to predict, and my style is never predictive, because nobody can do that. Sometimes I even trade against my personal opinions, as I have to do what the charts are telling me to do, no matter what I think.