AAPL was in a large symmetrical triangle that it broke on Dec. 16.
On 21 Dec AAPL retested that symmetrical triangle, lower trend line (blue), 8 MA and failed.
It is below the MA (8, 20, 50 and 200) which is bearish .
It is far from the 20 MA (green), which indicates that it is possible to be slightly oversold.
RSI was oversold on Dec 28 , which is more bullish than bearish .
MACD slight positive divergences are visible (price is falling, MACD is not) more bullish than bearish .
Assessment: in the short term (several days), there could be a consolidation of the price and a smaller growth towards 8 and 20 MAs (blue and green lines). It is possible to retest the symmetrical triangle and rise up to FIB 0.382 and a maximum of 0.5. This would create the conditions for a strong bearish pattern called Bear Pullback and possible new strong down trend.
In the medium term, the trend is negative and it is realistic to expect that the levels from 2021 will be tested (red dashed lines).
On 21 Dec AAPL retested that symmetrical triangle, lower trend line (blue), 8 MA and failed.
It is below the MA (8, 20, 50 and 200) which is bearish .
It is far from the 20 MA (green), which indicates that it is possible to be slightly oversold.
RSI was oversold on Dec 28 , which is more bullish than bearish .
MACD slight positive divergences are visible (price is falling, MACD is not) more bullish than bearish .
Assessment: in the short term (several days), there could be a consolidation of the price and a smaller growth towards 8 and 20 MAs (blue and green lines). It is possible to retest the symmetrical triangle and rise up to FIB 0.382 and a maximum of 0.5. This would create the conditions for a strong bearish pattern called Bear Pullback and possible new strong down trend.
In the medium term, the trend is negative and it is realistic to expect that the levels from 2021 will be tested (red dashed lines).
Consistency is the key of success....