Apple managed to rally and close above the 50 day MA on Friday. We had two bear traps last week so I am questioning now if this is a bull trap?
The MACD is below the zero line and is gaining some momentum to the upside. The RSI is in a good range right now but has not become oversold. I highlighted a major gap that I feel like will be filled before we see continuation upwards. This could also cause panic selling into the month of October prior to a major election. More stimulus coming? That would propel this thing to the moon most likely but I am starting to feel like that is unlikely now until after elections.
This is not financial advice.
The MACD is below the zero line and is gaining some momentum to the upside. The RSI is in a good range right now but has not become oversold. I highlighted a major gap that I feel like will be filled before we see continuation upwards. This could also cause panic selling into the month of October prior to a major election. More stimulus coming? That would propel this thing to the moon most likely but I am starting to feel like that is unlikely now until after elections.
This is not financial advice.