Major trend line that dates back to Oct 2018, it was a major resistance line until Aug 2020 and it has been a major support line since then. Yesterday APPL broke major support trend line briefly but closed above the trend line end of day. If APPL can hold above the trend line for next few days, I believe we’re seeing a market bottom and indexes SPY & QQQ will start moving higher as AAPL goes higher. However I see major resistance level coming for APPL at around 172-175, where the long term upper channel and short term upper channel converge.
Thanks,
Vijay
Thanks,
Vijay
Trade closed: target reached:
$175 target reached on 18-Aug