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This is a follow up to the previous chart posted, also containing a previous days disclaimer as the information still applies(110-112 zone note).
Apple had a huge day today, but many analyst are calling for the market as whole to be heading back downwards, can Apple keep the steam?
Breaking out towards the upside out from a falling wedge, Apple had a CRITICAL day that was necessary for any hope of a recovery soon.
Apple needs to hold this zone and break over 112-113 to confirm a trend change and breakout towards the upside.
RSI has space to run, which is a good thing, but it needs to take advantage this week to get out of these middle/danger zones.
Youll also see there was a partial gap fill that has recently occured (purple zone)
A close directly in the vicinity of the 50 day moving average gives the hint that this one could be ready to head back up, we just need a couple more confirmations via price action, and Apple could be back into a bullish mode.
This is a follow up to the previous chart posted, also containing a previous days disclaimer as the information still applies(110-112 zone note).
Apple had a huge day today, but many analyst are calling for the market as whole to be heading back downwards, can Apple keep the steam?
Breaking out towards the upside out from a falling wedge, Apple had a CRITICAL day that was necessary for any hope of a recovery soon.
Apple needs to hold this zone and break over 112-113 to confirm a trend change and breakout towards the upside.
RSI has space to run, which is a good thing, but it needs to take advantage this week to get out of these middle/danger zones.
Youll also see there was a partial gap fill that has recently occured (purple zone)
A close directly in the vicinity of the 50 day moving average gives the hint that this one could be ready to head back up, we just need a couple more confirmations via price action, and Apple could be back into a bullish mode.