Get started
PriceActionTrader1

AAPL - Will the price break down or up?

Short
Apple Inc (NASDAQ:AAPL)  
PriceActionTrader1 Updated   
NASDAQ:AAPL   Apple Inc
Trend Analysis Wedge Volume Rising Wedge bearishreversal
2
2
trendanalysis wedgepattern volumestudies risingwedge bearishreversal
AAPL is forming rising wedge pattern(bearish reversal) on weekly time frame. Volume has been decreasing ever since it has been trading in rising wedge pattern. If it breaks the lower bottom of the wedge with volume, It would be a confirmation of bearish reversal. Let's see if price breaks down or breaks up.
Comment:
Price did a breakout above the Wedge resistance but could not hold the gain and reversed back below the resistance. Currently standing at the previous horizontal resistance level. Let's see whether this resistance level turns support or breaks down.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.