InnovumConsults

MORE BLOOD TO COME?? ($APPL Technical Analysis)

NASDAQ:AAPL   Apple Inc

$AAPL has been incredibly oversold leading into its new 52 week low established today. I highlighted a couple key points to watch for in the weekly time-frame.

$AAPL's next support is the first demand zone (first purple box). That coincides with the downwards channel $AAPL is following since the beginning of 2022. The main key point is seeing continuation in the pattern where $APPL should bounce on the support since the RSI is reaching oversold territory (Circled area). If $APPL breaks this key point/area the next supports are marked. The price action that will validate a bounce or a break will be found Feb. 13 in 2023.

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