AAPL: Could trigger a very strong reversal chart pattern!
Hello traders and investors! Let’s see how AAPL is doing today!
In the 1h chart, we see that it escaped from the descending channel we talked about in my last analysis, which is good, but it is showing some weakness signs.
It just hit the trendline again, and it is supposed to find a support there, but we see lower high/low as well. This makes the chart hard to read, as we have some mixed signs around, so, let’s see the daily chart for more clues:
The thing is, AAPL is trying to reverse the bearish sentiment, but the fight is not easy, therefore, we see a complex chart, but we can still find some sense of it.
The volume was lower than the average in the past week, and this could be a trait of a boring congestion. Anyway, the $ 120 is a strong support area, and AAPL could hit there before we see any reaction.
If we see a reaction around this support level, AAPL could do an IH&S pattern, and the target would be the $ 137 again. But so far, we have no sign that this will happen, and no confirmation of any bullish reaction.
Now it is time to carefully wait for an opportunity on AAPL, and we must keep monitoring it closely for any good reaction. Remember to follow me to keep in touch with my daily updates, and support this idea with your like, if it helped you!
Thank you very much.
In the 1h chart, we see that it escaped from the descending channel we talked about in my last analysis, which is good, but it is showing some weakness signs.
It just hit the trendline again, and it is supposed to find a support there, but we see lower high/low as well. This makes the chart hard to read, as we have some mixed signs around, so, let’s see the daily chart for more clues:
The thing is, AAPL is trying to reverse the bearish sentiment, but the fight is not easy, therefore, we see a complex chart, but we can still find some sense of it.
The volume was lower than the average in the past week, and this could be a trait of a boring congestion. Anyway, the $ 120 is a strong support area, and AAPL could hit there before we see any reaction.
If we see a reaction around this support level, AAPL could do an IH&S pattern, and the target would be the $ 137 again. But so far, we have no sign that this will happen, and no confirmation of any bullish reaction.
Now it is time to carefully wait for an opportunity on AAPL, and we must keep monitoring it closely for any good reaction. Remember to follow me to keep in touch with my daily updates, and support this idea with your like, if it helped you!
Thank you very much.
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