AAPLE, High Volatility Stock, Possible Breakout Incoming!
Hello Traders Investors And Community, welcome to this important analysis about the stock which showed the last weeks and months high volatility compared to the other global stock-markets and major single stocks like facebook or amazon. As I already mentioned in recent analysis there are anticyclical stocks which are moving in the opposite direction of the bearish shape in the overall market, these are the truffles in the current bearish situation and when considering processes on the long-side we should concentrate on these which are profiting out of the current coronoa-crisis such as food-companies or pharmaceutics. Apple is not necessarily in this category but as the digitalization experiences ongoing prosperity it is definitely an interesting title which can be in the gainers of the current and ongoing crisis, therefore we are looking at the 4-hour timeframe.
When looking at my chart you can see that apple currently trades near the huge resistance where we had the all-time-high at 325 which you see marked with the grey level in my chart, this is an important resistance for apple and it can indicate the reversal we will see the next time, as already pointed out apple is one of the high volatile stocks at these times which can bouncing from 214 to 325 gaining more than 50 %, it is just logical that we will get an correction the next time as we are approaching the heavy resistance and apple is trading in an possible rising wedge which is normally considered a bearish reversal pattern which in the most cases marking a reversal turning from bullish to bearish this just gives one more possiblity factor for the coming high likelihood correction we will see here.
The next time we can expect apple to test the remaining support levels we have in the structure currently, these include the lower boundary of the wedge and the 20 and 100-EMA you can see marked in blue an brown in the chart, these levels are important because when we cross below we will get more bearish pressure within the high possible spectrum. When this scenario plays out we can examine that apple will reach the overall target of the wedge which is also matching with the 61.8 % Fibonacci-support you can see marked in my chart. This overall pattern is actually excellent for an trade on the short-side with an conservative entry after confirmation or an aggressive enty above the all-time-high, traders should decide in this case according to individual risk-preferences.
After the downside targets where reached we have to see and examine how apple manages to continue further, the volatility will also play a big role here, when we get high bearish pressure to the downside this gives one factor that apple continues, for a possible reversal apple needs to confirm the support as a solid level of confirmation otherwise when we get some little bounces there and no concrete reversal it is within the likely spectrum that apple continues down. When this happens the overall structure can be a massive double top which is confirmed 213 level, so this scenario should definitely kept in mind. Otherwise when apple stabilizes it can possibly confirm as antyciclyal to stocks. At the moment many countrys regulating the corona-restrictions down which can result in an positive price-action to the upside but we can also get a second wave and a second lockdown-phase will cause definitely an increase in bearish pressure also in apple.
In this manner, thank you everbody for watching the analysis and all the best! ;)
The market is a prognosticator looking forwards.
Information provided is only educational and should not be used to take action in the markets.
When looking at my chart you can see that apple currently trades near the huge resistance where we had the all-time-high at 325 which you see marked with the grey level in my chart, this is an important resistance for apple and it can indicate the reversal we will see the next time, as already pointed out apple is one of the high volatile stocks at these times which can bouncing from 214 to 325 gaining more than 50 %, it is just logical that we will get an correction the next time as we are approaching the heavy resistance and apple is trading in an possible rising wedge which is normally considered a bearish reversal pattern which in the most cases marking a reversal turning from bullish to bearish this just gives one more possiblity factor for the coming high likelihood correction we will see here.
The next time we can expect apple to test the remaining support levels we have in the structure currently, these include the lower boundary of the wedge and the 20 and 100-EMA you can see marked in blue an brown in the chart, these levels are important because when we cross below we will get more bearish pressure within the high possible spectrum. When this scenario plays out we can examine that apple will reach the overall target of the wedge which is also matching with the 61.8 % Fibonacci-support you can see marked in my chart. This overall pattern is actually excellent for an trade on the short-side with an conservative entry after confirmation or an aggressive enty above the all-time-high, traders should decide in this case according to individual risk-preferences.
After the downside targets where reached we have to see and examine how apple manages to continue further, the volatility will also play a big role here, when we get high bearish pressure to the downside this gives one factor that apple continues, for a possible reversal apple needs to confirm the support as a solid level of confirmation otherwise when we get some little bounces there and no concrete reversal it is within the likely spectrum that apple continues down. When this happens the overall structure can be a massive double top which is confirmed 213 level, so this scenario should definitely kept in mind. Otherwise when apple stabilizes it can possibly confirm as antyciclyal to stocks. At the moment many countrys regulating the corona-restrictions down which can result in an positive price-action to the upside but we can also get a second wave and a second lockdown-phase will cause definitely an increase in bearish pressure also in apple.
In this manner, thank you everbody for watching the analysis and all the best! ;)
The market is a prognosticator looking forwards.
Information provided is only educational and should not be used to take action in the markets.
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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.
►✅JOIN THE BEST+ TOP TELEGRAM TRADING CHANNEL: t.me/VincePrinceForexGoldStocks
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
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.