Rising wedge on the weekly chart
In this analysis, I will compare the Apple weekly and daily charts.
On the weekly, we can spot a bearish pattern next to some additional signs. RSI is overbought and the momentum is very weak.
However often, when there is a huge pattern and everyone notices it, the quite opposite happens.
On the other hand: the daily chart is also overbought, but we got huge volume and nice momentum.
However, I expect at least some pullback after we reach the R2 Pivot point.
On the weekly, we can spot a bearish pattern next to some additional signs. RSI is overbought and the momentum is very weak.
However often, when there is a huge pattern and everyone notices it, the quite opposite happens.
On the other hand: the daily chart is also overbought, but we got huge volume and nice momentum.
However, I expect at least some pullback after we reach the R2 Pivot point.
Penafian
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