AAPL - Short Position
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When looking at AAPL current underlying value and most recent price behaviour when using a 2-hour range, investors can see a shooting star bar formation. Underlying price movements of AAPL witnessed a loss of its initial gains in this instance, the shooting star formation shows a bareish correction after a failed attempt to keep underlying stock prices higher.
When observing 50 and 100 day ranged EMA averages investors can see that on the 29/08/22 – 30/08/22 shorter 50-day EMA moving average crossed beneath the longer 100-day EMA moving average. This dead cross was followed by a strong down trend, underlying prices falling 5%.
This was after bullish rallies that were witnessed since July. On 06/07/22 shorter 50-day EMA moving average crossed above longer 100-day EMA moving average. This fresh bullish crossover was followed by a rally that saw the underlying share value to increase over 20%. Currently EMA moving average lines are not moving back towards one another, instead they are moving parallel in a different trajectory. This was after the rejection of bullish momentum. Therefore, the down trend is more likely to strengthen before corrections occur.
Based on EMA moving averages and candlestick patterns and behaviour we are bareish in sentiment. We anticipate that the stock will fall further and have taken a short position as a result.
When observing 50 and 100 day ranged EMA averages investors can see that on the 29/08/22 – 30/08/22 shorter 50-day EMA moving average crossed beneath the longer 100-day EMA moving average. This dead cross was followed by a strong down trend, underlying prices falling 5%.
This was after bullish rallies that were witnessed since July. On 06/07/22 shorter 50-day EMA moving average crossed above longer 100-day EMA moving average. This fresh bullish crossover was followed by a rally that saw the underlying share value to increase over 20%. Currently EMA moving average lines are not moving back towards one another, instead they are moving parallel in a different trajectory. This was after the rejection of bullish momentum. Therefore, the down trend is more likely to strengthen before corrections occur.
Based on EMA moving averages and candlestick patterns and behaviour we are bareish in sentiment. We anticipate that the stock will fall further and have taken a short position as a result.
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