AAPL: The Next Key Points to Watch (D & H charts).
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On the daily chart, AAPL exhibits a clear upward trend supported by the 21-day EMA, which stands around 221. This moving average has provided a robust support level throughout the recent price action. The stock recently tested this level near 220.20, which acts as a double support comprising the 21-day EMA and a horizontal support line. This confluence of support levels suggests a strong area where buyers might step in.
On the hourly chart, the bearish pivot point at 232.33 has been triggered, indicating potential short-term weakness. This point marks a significant level where the price reversed its previous upward movement, leading to a lower high and lower low formation. The declining trendline connecting these lower highs and lows highlights the bearish sentiment in the short term. The 21-hour EMA is a dynamic resistance now, reinforcing the downward bias during this period.
These technical factors suggest that while the daily chart maintains a strong uptrend with significant support, the hourly chart indicates potential short-term weakness that we should monitor closely. Since it is a bull trend, any bullish reaction around the double support level would present another buying opportunity. For now, we should be cautious and wait for more clues.
For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions.
Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation.
“To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore
All the best,
Nathan.
On the hourly chart, the bearish pivot point at 232.33 has been triggered, indicating potential short-term weakness. This point marks a significant level where the price reversed its previous upward movement, leading to a lower high and lower low formation. The declining trendline connecting these lower highs and lows highlights the bearish sentiment in the short term. The 21-hour EMA is a dynamic resistance now, reinforcing the downward bias during this period.
These technical factors suggest that while the daily chart maintains a strong uptrend with significant support, the hourly chart indicates potential short-term weakness that we should monitor closely. Since it is a bull trend, any bullish reaction around the double support level would present another buying opportunity. For now, we should be cautious and wait for more clues.
For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions.
Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation.
“To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore
All the best,
Nathan.
Komen
AAPL has failed to make a bullish reaction above its double support area, and we see a top signal on the weekly chart, a bearish engulfing candlestick pattern.
If we don't see a very good bullish reaction as soon as possible, closing above the 21-day EMA again, AAPL could just keep correcting to its next support at 206, or even to lower levels like the 21-week EMA.
This week is going to be decisive.
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