APPLE Bouncing off extremely strong Support Cluster.

BATS:AAPL   Apple Inc
Apple (AAPL) completed yesterday 3 straight green 1D candles, the longest such bullish streak in 3 months (since January 25). The rebound has been initiated inside the Lower Highs Zone that started after Apple's former All Time High (ATH) on January 04 2022.

The are a lot of recurring patterns involved as well, with one being that the current Channel Down that started on the December 14 2023 High, was rejected on the Resistance Zone that the previous Channel Down also did on the July 19 2023 High. That one made a Double Bottom on the Former ATH Lower Highs Zone after a rejection marginally above the 1D MA50 (blue trend-line) before rebounding.

With the 1D RSI within a Channel Down as well since that High and having rebounded from its lowest level since February 2018, we have a very strong case for buying Apple, at least on the medium-term, targeting again the Resistance Zone's bottom at $198.00.

If it follows the pattern of the 2023 rally, we can even see it hitting the 1.382 Fibonacci extension at $211.00 or even higher by the end of the year since the pattern that on the January 03 2023 market bottom, is a Channel Up.


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