Apple - Fibonacci and Higher Lows at Retracement Levels
Updated
Apple had a solid run over the summer, well really from April to July.
The past few weeks APPL has been trending down but when we zoom out to the weekly time frame we can identify that APPL is still in an uptrend.
It continues to make Higher Lows.
It is above the Exponential Moving Average.
We can also take a look at the Fibonacci Retracement which I find really interesting.
After the stock split, it retraced to the 78.6% level where it found support and made a Lower High in October before dropping to the 61.8 level and finding support.
It bounced and found resistance at the 38.2% level and dropped finding support at the 50% level today.
This seems to be a very bullish pattern and I think we will reach an ATH within the next few months.
The swing trade looks very doable.
Please let me know your thoughts.
Disclaimer: I am not a financial advisor. This is not financial advice. This is not trading advice. This is purely for educational purposes only.
The past few weeks APPL has been trending down but when we zoom out to the weekly time frame we can identify that APPL is still in an uptrend.
It continues to make Higher Lows.
It is above the Exponential Moving Average.
We can also take a look at the Fibonacci Retracement which I find really interesting.
After the stock split, it retraced to the 78.6% level where it found support and made a Lower High in October before dropping to the 61.8 level and finding support.
It bounced and found resistance at the 38.2% level and dropped finding support at the 50% level today.
This seems to be a very bullish pattern and I think we will reach an ATH within the next few months.
The swing trade looks very doable.
Please let me know your thoughts.
Disclaimer: I am not a financial advisor. This is not financial advice. This is not trading advice. This is purely for educational purposes only.
Note
APPL is now $131.00 after hours on December 21st. It is continuing to create higher lows.
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