Nasdaq is at critical .618 fibonacci support level AND AAPL is ALSO at 0.382 fibonacci support level.
If Nasdaq holds this level for weekly cbsl today 6/Jan/2023 AND AAPL closes above 126 usd expect ATLEAST 500 points bounce.
AAPL is at critical 0.382 fibonacci support level - need weekly close above126 today 6th Jan 23. Else AAPL can crash land to 109 and along with it take down nasdaq to psychological 10000 level too.
Can take a very small risk for best return on the upside.
stock price is already broken the structure of higher highs and higher lows, and currently the price is moving in the bearish structure( lower lows and lower highs, parallely the volumes are hevay when the price moves downward and volumes are low when price is moving higher, safe trade can be taken when the price hits the retest area and there should be formation...
- Swing High / ATH / Monthly Pivot R1 Breakout
- Good Breakout Volume
- Outperforming S&P500 in 3m & 6m TF
- Spread Chart Breakout
- Good Q2 Results posted by AAPL
Good opportunity for a swing trade
Apple stock has been in parallel channel since Dec 2004 and now it is almost at the upper end of the channel.
If it fails to give BO then there is good possibility that it may correct in handsome way to retest the support highlighted.
AAPL has been consolidating in a range for a while. On weekly charts its been observed that its ready for breakout and ready to take a leap upwards for a very long term. Weekly breakouts are not meant for short term trading. When we get a breakout on weekly charts, usually it lasts for 6-12 months.
Disclaimer :
Trading is never ever recommended as it is...
Heavy wedge pattern forming on Apple stock. Feeling highly bullish in medium term. Great time to buy at ~125 range. Expected a ~20% upside in 2-3 months.
There might be a Bullish Potential Today (May 18, 2021)
Long Position would be a good idea for AAPL today.
Stay tuned with the Market and with me. A like would be a great motivation for me. THNX
