Based on this logarithmic chart, coupling it with historical data and fibonacci retracements, we can predict that the APPL stocks will hit around 121-124 ( the circled area).
Log charts help us figure out market cycles. We can notice that the buying power is becoming much lower for APPL signaling the beginning of the end for this company, which fundamentally, is starting to make sense.
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Here's an update on a normal chart : We can notice every retracement that happened surpasses a little bit the previous ath
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This is without the fibonacci's to make it clearer:
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Apologies for the Fibonacci's. I have made an error on the first one
@LoLBeach, For this one, I used the weekly timeframe
CodedFlow
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@PattyMcPat, elabarate please what kind of Fibonnaci tool do you use and how... i use it too - and you have a way of doing it which is not clear to me...
Zebre_Trader
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@LoLBeach, Indeed, I just noticed that I have made an error on the first fibonacci.
What I basically do, is start it from the local low to the ATH.
The first one is incorrect on my chart!
CodedFlow
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@PattyMcPat, do you use Fibonnaci retracement ?
Zebre_Trader
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@LoLBeach, Yes, that's the one. The rectangle one on trading view
CodedFlow
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@PattyMcPat, then you did the first one correct and you blew it on the second one. and you do not show the full screen on daily... since obviously that is where you play. anyway... good luck.
Zebre_Trader
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@LoLBeach, You are right, I was talking about the first one wrong being on this one :
Zebre_Trader
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@LoLBeach, I made 2 errors, one on the main chart and the other on the comment chart. I don't know how I messed them up...