Above is the inverted weekly chart for aapl. On a normal chart this would be a strong buy (and in the case of apple, a buy on the inverted would be a sell). We have a doji like candle on increased volume. We had very chaotic action this week hitting ATH on Monday, pulling back 2.5%, hitting a new ATH again and then pulling back. There is definitely a fight between bulls and bears. The high volume here shows signs of potential distribution. Aapl had climbed over 20% since early June with deteriorating fundamentals (supply chain issues, privacy issues, lack of true innovation, and entry into the high ticket low margin business of cars).
I have been noticing same level for a couple of days now well said
AnaBloemkool
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And this can be the time to fix some profit for thise who targetet 150 area, it can also stop the stock from climbing higher. Agree with your analysis.
BTW, if you don't mind could you share how do you get an inverted chart?
TurnUpTheVolume
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Thanks! On mobile there’s a circle with lines coming out of it on the bottom right. Sort of looks like a sun. Click on that then go to invert scale. Will look at how to do it on desktop when I’m at a computer next.