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TradingShot
Oct 7, 2020 3:38 PM

APPLE Strong bullish potential if the 1D MA30 breaks. Long

Apple Inc.NASDAQ

Description

I have used the Fibonacci Channel on this one as I wanted to find the true demand zone.

As you see the 0.382 - 0.0 level is a sustainable Buy Zone that delivers a bullish break-out near the 1.0 where investors are better off taking profits and then repeating the buy on lower levels.

Right now we have a Bullish Cross on MACD and the RSI is trading sideways on the 1D chart. Last time those took place, AAPL has already found a Bottom. Assuming this is the case, once the 1D MA30 (blue line) breaks, we can expect a sustainable uptrend to start. Accumulate within the lower Fib levels and sell once the break-out takes place.



** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **

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Comments
oilreg
i hear bullish bias all over the place, my TA is more bearish thou
TradingShot
@oilreg, No problem this is about exchanging ideas even if they are opposing! Why don't you share it here with us?
SunnyHillCapital
Extraordinary analysis, thank you for sharing! Keep it up!
TradingShot
@SunnyHillCapital, Thanks sunny.
ProjectSyndicate
upvoted. premium info!
TradingShot
@ProjectSyndicate, Keep up the good work yourself PS!
PolarHusk
Consolidation, let's see if appl can break above the local resistance. Thanks for sharing your idea 🐻‍❄️😃
TradingShot
@PolarHusk, You're welcome Huskie! Well done for starting to enrich your comments!
tdao1986
Thank you for sharing!
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