AAPL hit a new ATH recently, Dec. '23, slightly higher compared to July '23.
The ATH, 199.62, came in modestly higher compared to January 2022.
A four years long bearish divergence has been developing with the RSI, January again.
Apple's weekly RSI peaked January 2020, by now, the divergence is four years long.
Trading volume has been dropping since March 2020.
The last year having the lowest trading volume in many years...
On top of these signals we have the following:
➖ Double-top formation.
➖ Bearish cypher pattern.
➖ Falling window.
➖ Break and close below EMA10.
It seems it will be a strong correction, it can last many months (3-6).
Namaste.
The ATH, 199.62, came in modestly higher compared to January 2022.
A four years long bearish divergence has been developing with the RSI, January again.
Apple's weekly RSI peaked January 2020, by now, the divergence is four years long.
Trading volume has been dropping since March 2020.
The last year having the lowest trading volume in many years...
On top of these signals we have the following:
➖ Double-top formation.
➖ Bearish cypher pattern.
➖ Falling window.
➖ Break and close below EMA10.
It seems it will be a strong correction, it can last many months (3-6).
Namaste.
Note
Apple continues on track to the test the 140-153 price range or even lower.A ~130 target is also possible based on EMA300 as support.
Here is the chart:
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🚨 TOP FREE Trades
ETH +1450% · AAVE +1134%
XRP +749% · DOGS +868%
BTC +563% · SOL +658%
t.me/anandatrades/1350
🚨 FREE Analyses & New Results
t.me/masteranandatrades/6499
🚨 PREMIUM LIFETIME (Since 2017)
lamatrades.com
ETH +1450% · AAVE +1134%
XRP +749% · DOGS +868%
BTC +563% · SOL +658%
t.me/anandatrades/1350
🚨 FREE Analyses & New Results
t.me/masteranandatrades/6499
🚨 PREMIUM LIFETIME (Since 2017)
lamatrades.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.