Hello traders and investors! Let’s see how Apple is doing today!
First, AAPL is doing a pullback, as we’ve been warning here since the beginning of this month (links to previous AAPL analysis below) and the hourly chart is still very bearish.
It lost the support around the pink line at $ 110, and now it is trading under the 21 ema, doing descending tops and bottoms. There is no reversal sign ahead, and it seems the bear trend will persist a little longer.
Let’s see the daily chart for more clues:
Apple just filled one of its gaps (blue area), which we have been talking about since my last analysis, on Sep. 10, and today’s candlestick is the least positive (so far), which is also normal, as the gap will work as a support in the short-term.
But today’s candle could be just a quick rally in the hourly chart, a characteristic of a Dead Cat Bounce pattern. Unless we don’t see a clear reaction on AAPL in the next few days, the $100 (middle pink line) will be the next target for it.
Unless Apple starts trading above the 21 ema in the hourly chart again, and starts doing ascending tops and bottoms, the bearish momentum will continue, and so far, the reaction didn’t come.
But I confess if today’s end up being a Piercing Line pattern I would see a little light at the end of the tunnel, but it is too soon to say this. And if you liked this analysis, please, support it! And follow me to keep in touch with my daily analyses!
Trade well and stay safe.
First, AAPL is doing a pullback, as we’ve been warning here since the beginning of this month (links to previous AAPL analysis below) and the hourly chart is still very bearish.
It lost the support around the pink line at $ 110, and now it is trading under the 21 ema, doing descending tops and bottoms. There is no reversal sign ahead, and it seems the bear trend will persist a little longer.
Let’s see the daily chart for more clues:
Apple just filled one of its gaps (blue area), which we have been talking about since my last analysis, on Sep. 10, and today’s candlestick is the least positive (so far), which is also normal, as the gap will work as a support in the short-term.
But today’s candle could be just a quick rally in the hourly chart, a characteristic of a Dead Cat Bounce pattern. Unless we don’t see a clear reaction on AAPL in the next few days, the $100 (middle pink line) will be the next target for it.
Unless Apple starts trading above the 21 ema in the hourly chart again, and starts doing ascending tops and bottoms, the bearish momentum will continue, and so far, the reaction didn’t come.
But I confess if today’s end up being a Piercing Line pattern I would see a little light at the end of the tunnel, but it is too soon to say this. And if you liked this analysis, please, support it! And follow me to keep in touch with my daily analyses!
Trade well and stay safe.
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👉 Join the 5%: thefinancehydra.com/
💲💲 Project 5%: + 104%
🔹 S&P500: +35%
💪 Public track record.
