AAPL: Possible scenarios and complete analsis.
Hello traders and investors! Let’s see how AAPL is doing today!
In the 1h chart, we see a classic Triangle chart pattern. We don’t know to which side we’ll see a breakout, but we can work with some scenarios and set strategies.
If we break downwards, I see AAPL at its Fibonacci’s Retracements, preferably the 61.8%. By breaking upwards, we would seek the next resistances, which we see better form the daily chart.
The next resistance on AAPL is the $ 177, and the second one is the $ 182.94, the ATH. To me, the Risk/Reward ratio is more attractive for short trades, in the short-term, at least. However, since we are above the 21 ema (which is pointing upwards), and the bias seems to be slightly bullish in the mid-term, the odds might favor the bull on this one.
What’s more, since the beginning of the month it has been moving sideways with low volume, indicating that this could be just a harmless sideways correction before it could go up again.
Long-term speaking, AAPL is still very bullish, as we just hit our previous support at the black line 2 weeks ago ($157) and it reacted amazingly well after this. The 21 ema is another support, and it is working very well too.
The next few days are going to be decisive. Let’s keep our eyes on this Triangle in the 1h chart for now.
If you want to keep in touch with my daily analysis, remember to follow me and I’ll keep you updated.
In the 1h chart, we see a classic Triangle chart pattern. We don’t know to which side we’ll see a breakout, but we can work with some scenarios and set strategies.
If we break downwards, I see AAPL at its Fibonacci’s Retracements, preferably the 61.8%. By breaking upwards, we would seek the next resistances, which we see better form the daily chart.
The next resistance on AAPL is the $ 177, and the second one is the $ 182.94, the ATH. To me, the Risk/Reward ratio is more attractive for short trades, in the short-term, at least. However, since we are above the 21 ema (which is pointing upwards), and the bias seems to be slightly bullish in the mid-term, the odds might favor the bull on this one.
What’s more, since the beginning of the month it has been moving sideways with low volume, indicating that this could be just a harmless sideways correction before it could go up again.
Long-term speaking, AAPL is still very bullish, as we just hit our previous support at the black line 2 weeks ago ($157) and it reacted amazingly well after this. The 21 ema is another support, and it is working very well too.
The next few days are going to be decisive. Let’s keep our eyes on this Triangle in the 1h chart for now.
If you want to keep in touch with my daily analysis, remember to follow me and I’ll keep you updated.
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