The chart showcases how looking for divergences can be helpful to identify buy and sell opportunities.
In early Jan 2019, after a healthy correction on the AAPL stock, the RSI and the price showed a great bullish divergence as explained on the chart.
Similarly, now, we are witnessing a bearish divergence, where price has. over making. a higher high, whereas, the RSI has not made a new high indicating a pause or retirement maybe around the next few sessions
200 Day MA serves as a great support level on weekly times frames, super rock solid across time. It will be good to keep an eye on the weekly charts too and keep an eye when a bounce back or reversal could happen in case drawdowns
If you like the observations, please share a thumbs up
Happy to hear your comments
Cheers
In early Jan 2019, after a healthy correction on the AAPL stock, the RSI and the price showed a great bullish divergence as explained on the chart.
Similarly, now, we are witnessing a bearish divergence, where price has. over making. a higher high, whereas, the RSI has not made a new high indicating a pause or retirement maybe around the next few sessions
200 Day MA serves as a great support level on weekly times frames, super rock solid across time. It will be good to keep an eye on the weekly charts too and keep an eye when a bounce back or reversal could happen in case drawdowns
If you like the observations, please share a thumbs up
Happy to hear your comments
Cheers