I decided to do an analysis of APPL on the weekly because the shorter time periods are starting to show too much distortion.
The neck-line proves over time that it has been a strong support and resistance zone. The other red dashed lines are just short-term lines. If these short-term lines are broken it just means that the prevailing trend has slowed and most likely will go into a consolidation phase.
Also note that the 13 day EMA is crossing the 25 and they are approaching the neckline support.
Another support which I didn't mark on the chart is the bottom of the long green candle going through the neckline. If the neckline hasn't held up sa well as it did I would have used this as my primary support. Now it's secondary support.
HAPPY TRADING!!!
The neck-line proves over time that it has been a strong support and resistance zone. The other red dashed lines are just short-term lines. If these short-term lines are broken it just means that the prevailing trend has slowed and most likely will go into a consolidation phase.
Also note that the 13 day EMA is crossing the 25 and they are approaching the neckline support.
Another support which I didn't mark on the chart is the bottom of the long green candle going through the neckline. If the neckline hasn't held up sa well as it did I would have used this as my primary support. Now it's secondary support.
HAPPY TRADING!!!