Apple weekly view:
On a weekly time frame a bearish divergence can be witnessed
on the chart.
A bearish divergence occurs when prices go higher but the RSI remains lower.
Watch the 2 red arrows.
This friday as on 13/9/19 Apple gave a close at 218.75.
Now the immediate support is 212.72. If this is cracked heavily we can see down
ticks near 208.78 and 204.55 where the monthly and weekly pivots are placed,
when two major pivots are nearer it is assumed that the stock will take a support.
The 20EMA is also there to support the stock at 201.76. (the light green line).
If we see the candle , its clearly an Inverted hammer which says that the prices
may come down.
Immediate resistence on the higher sides are 220 and 222 where again the monthly and weekly pivots
are there.
Last week the Apple took a bounce from the CPR the blue dot which can be seen on the last weekly green candle.
So, overall sentiment for this counter is neutral to bearish for the coming week.
If takes support above 222 and 225 higher targets of 230 and 236 can be witnessed.
On a weekly time frame a bearish divergence can be witnessed
on the chart.
A bearish divergence occurs when prices go higher but the RSI remains lower.
Watch the 2 red arrows.
This friday as on 13/9/19 Apple gave a close at 218.75.
Now the immediate support is 212.72. If this is cracked heavily we can see down
ticks near 208.78 and 204.55 where the monthly and weekly pivots are placed,
when two major pivots are nearer it is assumed that the stock will take a support.
The 20EMA is also there to support the stock at 201.76. (the light green line).
If we see the candle , its clearly an Inverted hammer which says that the prices
may come down.
Immediate resistence on the higher sides are 220 and 222 where again the monthly and weekly pivots
are there.
Last week the Apple took a bounce from the CPR the blue dot which can be seen on the last weekly green candle.
So, overall sentiment for this counter is neutral to bearish for the coming week.
If takes support above 222 and 225 higher targets of 230 and 236 can be witnessed.
Trade closed: target reached:
237 target reached!!!