Rising wedge formation on Apple, could head lower.
Updated
Apple (AAPL) is currently within a rising wedge formation; and the top of the wedge nearly coincides with the previous peak back between September and October of 2018. They also have some potential fundamental headwinds with the US/China trade tension, and the hype from their new Iphone and new apple products might begin to wane. The 225-230 level is proving to be a difficult resistance to break. The target of the rising wedge would put the price roughly around $180, but I am also watching the 50/100/200 day MA's as possible bounce points.
MA Guide (All daily for this post):
50 MA in Green.
100 MA in Yellow.
200 MA in Red.
-This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress.
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MA Guide (All daily for this post):
50 MA in Green.
100 MA in Yellow.
200 MA in Red.
-This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress.
Also, for any crypto traders out there, Binance just launched their US exchange (Binance US.) If you need a link to go sign up, click here--> binance.us/?ref=35000668
Note
Still within the rising wedge formation. If price breaks above 230 and starts using that level as support, then the rising wedge would likely become invalidated: Note
Tagged that 230ish resistance level: Trade closed manually
Wedge was invalidated.
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Sign up for Binance US here: binance.us/?ref=35000668
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