Apple
Panjang

AAPL Weekly Trendline

AAPL looks to be consolidating after the previous leg up and is approaching its weekly trendline support. Over the past few weeks it has put in a possible double top along with a divergence in the RSI so that is something to be cautious of. However, I believe that it will continue the uptrend once it finds support at the weekly trendline since a trend in motion is more likely to stay in motion. I will be watching it closely and looking for signs of continuation.

Pros/Cons Summary
Pros:
- Approaching weekly trendline support
- Trading with the overall trend
- showing strength by consolidating after the previous move up (1/19 - 2/23)

Cons:
-Possible double top
-RSI divergence

Penafian