AAPL demonstrates increased volatility and a general downtrend from $172
in a megaphone-type pattern in retracing the recent uptrend.
I see a swing SHORT setup with a target the mid-Ficonnaci levels
in tiered partial position closures.
The general market downturn will lend more directional momentum.
AAPD, a bear ETF tracking AAPL is another consideration.
Trade active
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On the chart above, blue for up and orange for down volume bars are high when they get above the light blue line. Volume might typically increase with areas of high volatility such as the upper and lower trend lines or in crossing or bouncing at the mid-line.
@TheNewsCrypto, Thanks I am thinking that the bear market rally is over and that as a titan of the NASDAQ AAPL will fall. I am targeting 153 but figure in time ( 2-3 months) below 120 is possible especially if the recession hits and inflation increases Apple devise MSRP , the average person will decide to postpose upgrades and get by for the time being. Time will tell !
bbparis
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Thank you so much for your great analysis! So, as I can see in your megaphone-type pattern, Apple stock might reach 115 soon, right?
AwesomeAvani
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@bbparis, while 115 is entirely possible based on the analysis and the 130 range in mid- June before the ascent from the S & P low on June 17th to Mid August for a high - the descent to a new low would take a similar two months during the now expected return of the bear market. I however am not being greedy. I will target only the fib levels for now ( red and green horizontals at 153 and then assess things at that time. Happy trading !