botje11

Apple and the Parabolic rally, part 3

NASDAQ:AAPL   Apple Inc
I can't say this wedge is great, but volume is good, the size and it's position are good, only the shape of it is not that convincing. At the moment, market is dropping a bit in the last hour before closing, which is usually the most important hour of the day.

In my previous analysis, i mentioned about being careful with being bearish on the stock market. Been reading up some more past week and it has become clear, the world and the analysts have turned crazy. But selffulfilling prophecy is very powerful, so this could continue.

Anyway, short term weakness would be a break of 316, after that 308 and the big one is 300ish. The wedge is also at it's max, so it needs to break now or tomorrow at opening, otherwise it becomes very unreliable.


Previous analysis:


Jan 23
Comment: Wow, it seems stock market CAN drop :) lol, so seems the wedge broke now, but important to see it continue coming few hours. As mentioned in my Dow analysis i just posted, there have been countless bear traps past half year on all time frames. Think Apple needs to reach 314 withing 2/3 hours for the 'wedge'to stay reliable.

Jan 23
Comment: LOL, it didn't take an hour after my update for the market to push up again. I have moved the line of the wedge, which actually makes the shape of it better than the previous one, which i described as a bit doubtful. Only doing this, because the volume keeps on dropping. This time i might short it if we break the wedge, but think i might wait for today's low to break first, to play it a bit more safe. Apple will present it's earnings next week as well, so it could be we won't see anything happen until then, which would invalidate the wedge as well.

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Comments

AAPL left us a big gap!
+1 Reply
mother lent me $500 so i could buy apple cfds on my phone app
+1 Reply
I just rang my parents, get out of the markets
+1 Reply
botje11 DeadCatCapital
@DeadCatCapital lol hahaha, too soon for that, markets are still super strong
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@botje11, but, but, I just posted on facebook, got the same thing from ta, 5 wave ,channel broke up, but the kicker is the corona virus is about to go parabolic.
Reply
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