Hello traders and investors! Let’s talk about AAPL today!
First, it hit the bottom level of the Descending Channel we talked about in my last analysis. The sentiment is still bearish, and it lost the red line at $ 120.45 as well.
But there’s a light at the end of the tunnel. Right now, AAPL is reacting very well, and if it closes above the red line, the market may see this movement as a false breakout from a support level.
This is better seen in the daily chart:
Yes, we had a H&S chart pattern, and the target was already hit, at the previous support level, which is the same $ 120.45 (black line).
Yesterday, AAPL closed under this support level, but if it closes above it today, then we’ll see a false breakout, and this could be very frustrating for the bears. The investors may be attracted by AAPL, as the R/R ratio is very good near this support level.
But the bias is still a little bearish, so, let’s be careful and wait for more confirmation. Remember to follow me to keep in touch with my daily analyses and updates, and if this idea helped, please, support it!
Thank you very much.
First, it hit the bottom level of the Descending Channel we talked about in my last analysis. The sentiment is still bearish, and it lost the red line at $ 120.45 as well.
But there’s a light at the end of the tunnel. Right now, AAPL is reacting very well, and if it closes above the red line, the market may see this movement as a false breakout from a support level.
This is better seen in the daily chart:
Yes, we had a H&S chart pattern, and the target was already hit, at the previous support level, which is the same $ 120.45 (black line).
Yesterday, AAPL closed under this support level, but if it closes above it today, then we’ll see a false breakout, and this could be very frustrating for the bears. The investors may be attracted by AAPL, as the R/R ratio is very good near this support level.
But the bias is still a little bearish, so, let’s be careful and wait for more confirmation. Remember to follow me to keep in touch with my daily analyses and updates, and if this idea helped, please, support it!
Thank you very much.
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