This analysis is based on an expected short-term retracement, the question is where we may consider looking long rather than chasing the short.
Weekly Candle formation ( dark cloud cover.
Daily confirmed Double top.
Completed AB=CD and reacted exactly from the completion zone.
RSI Divergence - Daily.
MACD crossed over - Daily
Possible...
Break above blue resistance trendline then
Bull Target $117
Unable to break blue resistance trendline then
Bear Target $112.6 - $112 & may turn double bottom
If $112 doesn't hold then $110-$107.5
We want to focus on apples stock now as the 3 day is showing signs of a doji candle, ema dots shift red and the rsi shifts for a Crossover in overbought territory.
July 29th we get a close to see how valid this formation will setup. We want to see the candle close and begin to shift red also to align all indications. Hold your horses, let it play.
I have this...
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Apple is coming off of good earnings and their new series of upcoming iPhones was just leaked (so far there seems to be a warm reception). With a strong uptrend and a monster of a company, it seems unwise to do anything other than look for a long position. With that in mind, one...
