$AAPL Broke Its Support Zone. Are We Heading Towards $96.41?
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 closed at $106.84 with a pre-market trading price of around $103.72. In terms of directional bias, I have a bearish short-term bias on $AAPL while a bullish long-term bias on $AAPL. Let me explain.
Technical Analysis
1. Just last Friday, $AAPL broke an important support zone of $107.89-$109.87 and closed below it at $106.84. With that, I believe that for the next few H4 candles, $AAPL will be trading below the support zone (now turned resistance zone).
2. As long as $AAPL trades below the support-turned-resistance zone, regardless of whether the price stays within the bearish channel or breaks the bearish channel support, we will see $96.41 to $100.00 by the end of this week, if not by next Monday, latest.
3. Thus, unless you are entering a long position to gain some skin in $AAPL for a long-term investment which you plan to average down in the future, I do not recommend entering a long position right now at all because the downside of taking a long position right now far exceeds the upside. This is especially true for day-traders.
4. I believe that a potential entry for a long position is when the price hits the next support zone, where you can enter at around $96.41 to $100.00. Alternatively, if prices move towards the upside above the support-turned-resistance zone, I believe that a long position should only be taken if prices break the bearish channel, especially for day-traders, unless you plan to dollar-cost average as an investment. Of course, this is just my two cents on $AAPL, I may be wrong.
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 closed at $106.84 with a pre-market trading price of around $103.72. In terms of directional bias, I have a bearish short-term bias on $AAPL while a bullish long-term bias on $AAPL. Let me explain.
Technical Analysis
1. Just last Friday, $AAPL broke an important support zone of $107.89-$109.87 and closed below it at $106.84. With that, I believe that for the next few H4 candles, $AAPL will be trading below the support zone (now turned resistance zone).
2. As long as $AAPL trades below the support-turned-resistance zone, regardless of whether the price stays within the bearish channel or breaks the bearish channel support, we will see $96.41 to $100.00 by the end of this week, if not by next Monday, latest.
3. Thus, unless you are entering a long position to gain some skin in $AAPL for a long-term investment which you plan to average down in the future, I do not recommend entering a long position right now at all because the downside of taking a long position right now far exceeds the upside. This is especially true for day-traders.
4. I believe that a potential entry for a long position is when the price hits the next support zone, where you can enter at around $96.41 to $100.00. Alternatively, if prices move towards the upside above the support-turned-resistance zone, I believe that a long position should only be taken if prices break the bearish channel, especially for day-traders, unless you plan to dollar-cost average as an investment. Of course, this is just my two cents on $AAPL, I may be wrong.
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!
Comment:
As we have seen, $AAPL touched the potential-now-turned-confirmed channel support that I have drawn in the above chart and close above the support-turned-resistance zone that $AAPL has broken previously. I expect an upward movement towards the channel resistance now.
