AAPL: Finally reversed the trend! What now?

8 Nis 2021

Hello traders and investors! Yes, it seems all the patterns we discussed in our last study worked quite well, even better than I expected. Let’s see what’s next for AAPL.

First, in the 1h chart the Island Reversal pattern, which we talked about last week, worked wonders, and AAPL finally defeated the resistance at $ 124, breaking free from the congestion. And if you missed our previous study, the link to it is below this analysis, as always.

Now, AAPL is officially in a bull trend, and there’s no pullback/reversal signs ahead. If it drops to the 21 ema, it would be a natural movement and wouldn’t ruin the bull trend at all.

Now, to the daily chart:



Yes, AAPL triggered the Triangle pattern we also discussed last week, and this is a great sign. The Morning Star was the clue about the next movement, but I wasn’t expecting it would be that strong.

Now AAPL reached its resistance at $ 128.72, and it is trading slightly above it. If it closes under this blue line, we might see some correction, but again, that would be fine, as it would hardly ruin the bull trend, and it could offer a buy opportunity.

But as long as AAPL keeps above this blue line, it’ll remain very bullish. Definitely it is not the time to buy AAPL, as the time to buy is when it is near support levels, not resistance levels.

Let’s keep monitoring it closely, and if you liked this analysis, remember to follow me to keep in touch with my daily updates, and support this idea if it helped you!

Thank you!