AAPL: Nice correction! When will AAPL be a buy again?
Hello traders and investors! AAPL is correcting nicely as we expected since our last analysis, so we have a few points to update! The link to my last analysis on AAPL is below this post.
First, in the 1h chart, AAPL lost the green line we mentioned, which was the first trigger of a correction. What’s more, it did a bearish structure, a bearish pivot point, when it lost the $ 175.53 (red line).
What’s more, it lost the 21 ema, it is trading below it and the ema is pointing down. Maybe the $ 172 area will hold the price, but it is too soon to say this. Now the question is, for how long it’ll drop.
In the daily chart, AAPL did a classic Spinning Top candlestick pattern, a bearish reversal pattern, and the low volume just increased the chances of being triggered.
The Spinning Top’s low ($ 176.70) was almost at the $ 176.82, the green line we mentioned in our last analysis. By losing both points, AAPL reinforces our correction thesis in the daily chart too.
The trend is still bullish in the mid-term, and a pullback to the $ 168 is expected. Any bullish reaction near this support level would be an opportunity to buy. So far, we see no bullish reaction, and that’s ok. As we already mentioned, AAPL has been going up a lot recently, and it feels like a pullback was necessary.
I’ll keep you guys updated, so remember to follow me to not miss any of my future analyses!
First, in the 1h chart, AAPL lost the green line we mentioned, which was the first trigger of a correction. What’s more, it did a bearish structure, a bearish pivot point, when it lost the $ 175.53 (red line).
What’s more, it lost the 21 ema, it is trading below it and the ema is pointing down. Maybe the $ 172 area will hold the price, but it is too soon to say this. Now the question is, for how long it’ll drop.
In the daily chart, AAPL did a classic Spinning Top candlestick pattern, a bearish reversal pattern, and the low volume just increased the chances of being triggered.
The Spinning Top’s low ($ 176.70) was almost at the $ 176.82, the green line we mentioned in our last analysis. By losing both points, AAPL reinforces our correction thesis in the daily chart too.
The trend is still bullish in the mid-term, and a pullback to the $ 168 is expected. Any bullish reaction near this support level would be an opportunity to buy. So far, we see no bullish reaction, and that’s ok. As we already mentioned, AAPL has been going up a lot recently, and it feels like a pullback was necessary.
I’ll keep you guys updated, so remember to follow me to not miss any of my future analyses!
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