Looks like the Apple met with long term resistance. Just zoom out the chart and you will see that the yellow line represents a trend of high levels reached during this bull market, starting from 2009.
Initially, I expected that the earnings beat would push through the resistance, and got that wrong.. The stock price bounced off it and formed a descending channel pattern during this retracing week. (Well.. it was time to feed the bears. They look rather skinny. :D)
So.. the idea is about the next notable support level. As you can see we got various support levels meeting at 155.
Zoom out, take a look, where they come from and feel free to ask questions.
Yours sincerely,
Y
P.S. I will mark the idea as neutral because it is bearish initially, but afterwards we will see in updates what will happen in regards to the 155 mark.
Initially, I expected that the earnings beat would push through the resistance, and got that wrong.. The stock price bounced off it and formed a descending channel pattern during this retracing week. (Well.. it was time to feed the bears. They look rather skinny. :D)
So.. the idea is about the next notable support level. As you can see we got various support levels meeting at 155.
Zoom out, take a look, where they come from and feel free to ask questions.
Yours sincerely,
Y
P.S. I will mark the idea as neutral because it is bearish initially, but afterwards we will see in updates what will happen in regards to the 155 mark.
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I should create a church or something and be a prophet s***.
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After yesterday's jump Apple has encountered the resistance of a junior channel. Take a look at the hourly below.
In general, I kind of like this slow ascent of various stocks on various days..
From a fundamental aspect, I think that yesterdays chasers are going out and booking short term gains of the rebound, as this is the top stock of the market.
In general, I kind of like this slow ascent of various stocks on various days..
From a fundamental aspect, I think that yesterdays chasers are going out and booking short term gains of the rebound, as this is the top stock of the market.
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It even extended the decline down to the 150.00 mark.
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Quiet day. The gains have extended, but there is a medium channel down revealed.
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P.S. I am quite sure that if that upper trend line is broken, the 170 will be the next target. Sort of an idea for a short trade,
Your sincerely,
Y
Your sincerely,
Y
Yorum:
Cash in.. or lock in profits.
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I should post only feeling fresh not tired.
This is the correct chart.
This is the correct chart.
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The stock is in limbo around a Fibonacci retracement level. Meanwhile, I have drawn a speculative pattern.
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A zoom in to the 30 min chart. A squeeze in I am staying long due to the prevailing larger scale trend.
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Well.. we are back at the previous high level. Lets see, whether it gets pierced.
İşlem elle kapatılmış:
The narrow black line is where I bounced and took profits.
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