$AAPL Long Opportunity Over The Next 1-3 Trading Days
In this post, I will be going in detail with regards to my view of $AAPL from a technical perspective.
As of the time that I am writing this post, $AAPL is trading at a price of $110.20. Currently, I don't have a particular directional bias with regards to $AAPL, but what I am confident about is that, at least for the next 1-3 days, $AAPL will not be able to break the $107.89-$109.87 support zone, causing prices to rebound upwards temporarily. Why? I have 2 main reasons for this. The first reason has to do with my technical analysis which I will list below, while the second reason is more speculative in nature. I simply don't believe that there are enough sellers in the market right now to justify a break in the support level. $AAPL just had its bull rally. Compared to the peak of $137.98, at the price of $110.20, to investors and traders likewise, especially for those who missed out on the earlier rally, this can be present itself a promising entry level with good risk to reward ratio. As such, I believe that at the current price, it could bring in an inflow of investors and traders. Thus, I do not think that we have reached the point for us to break to the <=$100.00 price level yet. Of course, I may be wrong. But this is my two cents on $AAPL.
Technical Analysis
I believed that I have broken down the technical aspect of $AAPL's chart quite clearly in the candlestick chart above, but just to emphasis:
1. The Hidden Bullish Divergence that I indicated in the graph has allowed me to come to the conclusion that from a technical perspective, $AAPL does not have enough momentum to break such an important support level, at least for the next 1-3 days. $AAPL price has to push upwards in order to account for the Hidden Bullish Divergence. From there on, we will then be able to identify whether a further break in the support zone is possible, but that is out of the scope of this post.
Disclaimer
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment, or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies.
I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this site, expressed or implied herein, are committed at your own risk, financial or otherwise.
If this post has helped you out in making your investment/trading decision, do it give it a like, and follow for more updates regarding this ticker symbol!
As of the time that I am writing this post, $AAPL is trading at a price of $110.20. Currently, I don't have a particular directional bias with regards to $AAPL, but what I am confident about is that, at least for the next 1-3 days, $AAPL will not be able to break the $107.89-$109.87 support zone, causing prices to rebound upwards temporarily. Why? I have 2 main reasons for this. The first reason has to do with my technical analysis which I will list below, while the second reason is more speculative in nature. I simply don't believe that there are enough sellers in the market right now to justify a break in the support level. $AAPL just had its bull rally. Compared to the peak of $137.98, at the price of $110.20, to investors and traders likewise, especially for those who missed out on the earlier rally, this can be present itself a promising entry level with good risk to reward ratio. As such, I believe that at the current price, it could bring in an inflow of investors and traders. Thus, I do not think that we have reached the point for us to break to the <=$100.00 price level yet. Of course, I may be wrong. But this is my two cents on $AAPL.
Technical Analysis
I believed that I have broken down the technical aspect of $AAPL's chart quite clearly in the candlestick chart above, but just to emphasis:
1. The Hidden Bullish Divergence that I indicated in the graph has allowed me to come to the conclusion that from a technical perspective, $AAPL does not have enough momentum to break such an important support level, at least for the next 1-3 days. $AAPL price has to push upwards in order to account for the Hidden Bullish Divergence. From there on, we will then be able to identify whether a further break in the support zone is possible, but that is out of the scope of this post.
Disclaimer
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment, or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies.
I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this site, expressed or implied herein, are committed at your own risk, financial or otherwise.
If this post has helped you out in making your investment/trading decision, do it give it a like, and follow for more updates regarding this ticker symbol!
On the H1 candlestick chart, we can see that the price of $AAL is currently resting slightly above the potential Falling Wedge support after seemingly rejecting it. If today's market opens Green and the support holds, I believe that prices will push up to a minimum of $115.00 within the next 1-3 days to respect the Falling Wedge.