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MysteriousPersian
Jan 10, 2019 3:08 PM

beware Apple buyers Short

Apple Inc.NASDAQ

Description

The bottom isnt in for apple yet. Anyone who bought the giant 10% gap down few days back after earnings slash should be taking profits

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5 min graph showing ascending wedge filling this mornings gap. looks bearish short term. Gaisn strength over 153.80

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divergence in volume going down while price going up

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big buyers coming in. going to pay attention here for this critical moment

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powell speaks low interest rates continued. Fed allowing market to dictate the terms here which is dangerous. This short term trade is gone though

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stops over 153.80

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gottem

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taking profits at 152 and lower

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this is what developed graph looks like. Looking for breakdown of bigger trendline

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Comments
LeoFibonacci
nice resistance call. although, a slight bullish divergence on RSI weakens your hypothesis.
MysteriousPersian
@LeoFibonacci, very true. But it has also gone down while the major indexes have recovered. Now the indexes seem to be fatiguing.


RSI could also be skewed by the crazy gap down (lack of price action not allowing RSI to work its way down.

But i agree that the buying following that gap has shown to be relatively strong.
LeoFibonacci
@TristanKhanizadeh, the smaller gap down on Dec 31st was also automatically rejected. wonder what is propping this up - they still have lots of cash for buybacks?
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