AAPL daily chart
Apparently, the answer to my question on my previous post is a "no" and AAPL hasn't seen the bottom point yet at $117.45 and went down even further today. Because why not? We're just drawing ideas and trying to guess. Only the big money knows where it will go.
However, fibonacci levels (of April 2020) and formations (seen at daily shorter time periods) seem to work well and brought the price to this level.
Reached the target of shs (yellow) spot on and if the orange marks will be considered as a double top , there is a chance that AAPL has more room to go.
If we do the math by taking the numbers of the size of the pattern, $107.67 might the target of the double top , which is very close to the support level from Nov 2020 at $107.32.
If things will get worse, there might even be a bigger shs waiting? (purple) Let' hope not...
If anybody has an idea/chart on where it might go, please share so that I'll learn more or correct myself.
Don't make any investment decisions depending on my idea.
Apparently, the answer to my question on my previous post is a "no" and AAPL hasn't seen the bottom point yet at $117.45 and went down even further today. Because why not? We're just drawing ideas and trying to guess. Only the big money knows where it will go.
However, fibonacci levels (of April 2020) and formations (seen at daily shorter time periods) seem to work well and brought the price to this level.
Reached the target of shs (yellow) spot on and if the orange marks will be considered as a double top , there is a chance that AAPL has more room to go.
If we do the math by taking the numbers of the size of the pattern, $107.67 might the target of the double top , which is very close to the support level from Nov 2020 at $107.32.
If things will get worse, there might even be a bigger shs waiting? (purple) Let' hope not...
If anybody has an idea/chart on where it might go, please share so that I'll learn more or correct myself.
Don't make any investment decisions depending on my idea.
Comment:
I forgot to add the EMAs on the chart but AAPL is already under the 100 day EMA. Might bounce back from the 200 day EMA which is at $113.82 as of today?