AAPL: A possible Reversal Sign ahead?
Hello traders and investors! Let’s see how AAPL is doing today!
In the 1h chart, we have a clear bear trend, and a Descending Channel. So far, we have no clear reversal sign, but some signs that the bear trend is getting weaker.
The red line is a support level for AAPL, and any good reaction around this area could trigger a reversal. If AAPL loses then that’s ok, the bear trend will persist a little bit longer.
This support level is quite interesting because we can see it in the daily chart as well:
The black line at $ 120 seems to be a good support candidate, and if AAPL reacts around here, we could even see a Double Bottom pattern, which could ruin the previous H&S pattern.
The volume increased since we hit the support level, and was quite low during the sell-off, meaning this isn’t a true bear market, just a correction. But we must be aware of the $ 120 area, as if it loses it, the next target will the $ 112.
Let’s proceed carefully, and if you liked this analysis, remember to follow me to keep in touch with my daily updates, and support this idea if it helped you!
Thank you very much.
In the 1h chart, we have a clear bear trend, and a Descending Channel. So far, we have no clear reversal sign, but some signs that the bear trend is getting weaker.
The red line is a support level for AAPL, and any good reaction around this area could trigger a reversal. If AAPL loses then that’s ok, the bear trend will persist a little bit longer.
This support level is quite interesting because we can see it in the daily chart as well:
The black line at $ 120 seems to be a good support candidate, and if AAPL reacts around here, we could even see a Double Bottom pattern, which could ruin the previous H&S pattern.
The volume increased since we hit the support level, and was quite low during the sell-off, meaning this isn’t a true bear market, just a correction. But we must be aware of the $ 120 area, as if it loses it, the next target will the $ 112.
Let’s proceed carefully, and if you liked this analysis, remember to follow me to keep in touch with my daily updates, and support this idea if it helped you!
Thank you very much.
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