AAPL: Near a decisive point! Will it reverse the trend?
Hello traders and investors! Let’s talk about AAPL today!
First, in the 1h chart, AAPL triggered a Double Bottom chart pattern, just above the support at the black line ($119.79 area). The peak between the valleys of the pattern is the red line around $ 121, which is the exact same point where AAPL found support today.
This is not by chance, as it is according to the famous Principle of Polarity, which we talk about a lot here in our studies. But if AAPL loses the red line, then the black line is the next target again.
If AAPL starts a reversal at this point, it’ll be a great sign, not only because we have a clear support level in the 1h chart, but because the daily chart looks good as well:
The thing is, AAPL recently hit a support level around the $ 120, and it is trying to recover. The main challenge is the 21 ema, which is pointing down, reinforcing the idea of a bear trend.
But we have something that could work as an Inverted Head and Shoulders chart pattern, as evidenced by the greenish area. Of course, AAPL didn’t trigger this pattern, and it is too soon to say it will, but if we see any good bullish pattern this week, surely the odds of this scenario would increase.
This could be a nice reversal point for AAPL, but we must wait for more confirmation. Meanwhile, remember to follow me to keep in touch with our daily studies and updates, and if you liked this idea, remember to support it with your like!
Thank you very much!
First, in the 1h chart, AAPL triggered a Double Bottom chart pattern, just above the support at the black line ($119.79 area). The peak between the valleys of the pattern is the red line around $ 121, which is the exact same point where AAPL found support today.
This is not by chance, as it is according to the famous Principle of Polarity, which we talk about a lot here in our studies. But if AAPL loses the red line, then the black line is the next target again.
If AAPL starts a reversal at this point, it’ll be a great sign, not only because we have a clear support level in the 1h chart, but because the daily chart looks good as well:
The thing is, AAPL recently hit a support level around the $ 120, and it is trying to recover. The main challenge is the 21 ema, which is pointing down, reinforcing the idea of a bear trend.
But we have something that could work as an Inverted Head and Shoulders chart pattern, as evidenced by the greenish area. Of course, AAPL didn’t trigger this pattern, and it is too soon to say it will, but if we see any good bullish pattern this week, surely the odds of this scenario would increase.
This could be a nice reversal point for AAPL, but we must wait for more confirmation. Meanwhile, remember to follow me to keep in touch with our daily studies and updates, and if you liked this idea, remember to support it with your like!
Thank you very much!
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