AAPL: Flying after it hit our support! Is it bullish now?
Hello traders and investors! Let’s update our thoughts on AAPL today!
We successfully identified the $ 166 as a key support level for it, and since then, it has been going up nicely. The link to my previous analysis is below this post, as usual.
Now, AAPL is in a bull trend, because it is doing higher highs/lows. However, I agree that since it is doing a Dark Cloud Cover pattern just under the dashed black line (previous top), it is not looking that bullish anymore.
But considering how well the 21 ema is holding the price, I’ll take this as a bullish indicator. What could change my view? If it loses the previous support at $ 170.05. The AAPL won’t look bullish at all.
In the daily chart we did a bullish candlestick, although it is dropping -0.11% today. It seems the 21 ema is holding the price here too, which is a curious coincidence, however, I still see the retracements as the most important support levels on AAPL.
Price-wise, AAPL is behaving well, and again, there’s nothing wrong with it. The only problem that makes it more vulnerable to bearish reaction is the decreasing volume. That would be an argument you might use to sustain a possible bearish thesis.
However, we don’t see any meaningful reaction, and as far as I know, it’ll keep going up until we see a bearish sign. I’ll keep you guys updated on this, so remember to follow me to not miss any of my analyses.
We successfully identified the $ 166 as a key support level for it, and since then, it has been going up nicely. The link to my previous analysis is below this post, as usual.
Now, AAPL is in a bull trend, because it is doing higher highs/lows. However, I agree that since it is doing a Dark Cloud Cover pattern just under the dashed black line (previous top), it is not looking that bullish anymore.
But considering how well the 21 ema is holding the price, I’ll take this as a bullish indicator. What could change my view? If it loses the previous support at $ 170.05. The AAPL won’t look bullish at all.
In the daily chart we did a bullish candlestick, although it is dropping -0.11% today. It seems the 21 ema is holding the price here too, which is a curious coincidence, however, I still see the retracements as the most important support levels on AAPL.
Price-wise, AAPL is behaving well, and again, there’s nothing wrong with it. The only problem that makes it more vulnerable to bearish reaction is the decreasing volume. That would be an argument you might use to sustain a possible bearish thesis.
However, we don’t see any meaningful reaction, and as far as I know, it’ll keep going up until we see a bearish sign. I’ll keep you guys updated on this, so remember to follow me to not miss any of my analyses.
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