Analysis of Apple Scrip

Oct 26, 2019

My 2 cents, as you can see from the above diagram, Apple seems to be range bound within the trendline, unless Apple breaks the trendline and goes above it (I don't see that happening because Apple seems to follow the SPX chart pattern and I believe SPX is going to come down after testing the resistance zone - please refer to my analysis of SPX), I believe Apple will go uptil around 250 - 255 before falling back to the 0.618 level of the Fibonacci retracement which is around 215-220, which is the "character" of the Apple scrip, I have attached an example, with the earlier top you can see that the Scrip exactly came to the 0.618 level before starting to move up.