APPL
The river of nonsense So here we are - and so let me be.
Rejected at top, looking to be free,
We fall below levels that exist,
To create false hope and blurry doubt mist.
You think you know the support line,
Drawn it precisely to meet your guideline,
Your charting style and wise strategy,
So watch this sharp knife, bloodily falling with thee.
And let me be...
APPLE ($AAPL): Should We Buy the Dip (if We Ever Get One)?✨ New charts every day ✨
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Apple is coming off of good earnings and their new series of upcoming iPhones was just leaked (so far there seems to be a warm reception). With a strong uptrend and a monster of a company, it seems unwise to do anything other than look for a long position. With that in mind, one could argue the tech sector is a little overextended and running right into resistance here, not only is that true for the sector, it is also true for AAPL as well. The bet here is that despite tech and Apple being bullish overall, a pullback for Apple if not the whole sector is in the cards first. The goal would be to find an entry at support and ride this monster of tech back to resistance if not beyond to new all time highs.
Resources: appleinsider.com + www.earningswhispers.com
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1. Fractal Trend is showing a strong uptrend (Aqua bar color) on the 2 hour chart. The pullback to the S1 and S2 support levels should still be contained within the uptrend and not initiate a trend change (bar color change).
2. With this strategy, we we want to enter long on bullish order blocks plotted by Orderblock Mapping (Blue) and bullish S/R levels plotted by Directional Bias (Blue).
3. There are two really clear levels of resistance from the range formed in the earlier part of the year. We are looking at those Bearish levels (Red) to initiate a healthy correction to our S1 and S2 levels.
4. With that all in mind, we will exit positions if Fractal Trend changes color, at any point. This will help to lock in profits and limit risk if Apple can't retain its uptrend.
Technical analysis APPLE INC. H1TRENDS
Short term: HIGHLY UP MY GOALS : 320.11 USD (+ 3.22%) / 327.20 USD (+ 5.50%)
Background: HIGHLY UP
83% UP / 0% SELL / 17% NEUTRAL
MY OPINION
UP ABOVE USD: 302.64
MY ANALYSIS:
The uptrend is currently very strong on APPLE INC .. As long as the price remains above the support at 302.64 USD, we could seek to profit from the surge. The first bullish target is located at 320.11 USD. The upward momentum would be revived by a break in this resistance. Buyers would then target the next resistance located at 327.20 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible short-term correction. If this is the case, remember that trading against the trend may be more risky. It would seem more relevant to wait for a signal to resume the trend.
The listing of APPLE INC. is 310.13 USD. The price recorded an increase of + 2.10% on the session and traded between 304.29 USD and 310.35 USD. This implies that the price is located at + 1.92% of its lowest and at -0.07% of its highest.
Technical analysis of this 1H graph from APPLE INC. indicates that the overall trend is strongly upward. 92.86% of the signals sent by moving averages are bullish. The overall trend is reinforced by the strong bullish signals given by the short-term moving averages. The Indicators scanner does not detect any detection on the moving averages that would impact this trend.
The study on technical indicators highlights a strong bullish signal.
Technical indicators:
RSI (14): 73.41
MACD (12,26,9): 3.1500
Directional Movement: 16.62
AROON (14): 100.00
DEMA (21): 308.67
Parabolic SAR (0,02-0,02-0,2): 304.43
Elder Ray (13): 2.98
Super Trend (3,10): 303.19
Zig ZAG (10): 310.13
VORTEX (21): 1.1100
Stochastique (14,3,5): 89.99
TEMA (21): 308.93
Williams %R (14): -2.63
Chande Momentum Oscillator (20): 7.24
Repulse (5,40,3): 1.2500
ROCnROLL: 1
TRIX (15,9): 0.1500
Courbe Coppock: 3.47
Moving Averages:
MM7: 298.30
MM20: 286.56
MM50: 271.23
MM100: 288.85
MMexp7: 307.53
MMexp20: 304.44
MMexp50: 298.45
MMexp100: 290.89
Cours / MM7: +3.97%
Cours / MM20: +8.23%
Cours / MM50: +14.34%
Cours / MM100: +7.37%
Cours / MMexp7: +0.85%
Cours / MMexp20: +1.87%
Cours / MMexp50: +3.91%
Cours / MMexp100: +6.61%
#APPLE #APPL Full Top Down Analysis & Trading PlanTraders, Like Snp500, Tesla, Uber, Apple is also creating similar pattern. We have a bearish bias but we will have to wait until we get a good confirmation to go short.
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Have a great trading week!
P.S. (This is for education only. Not a financial advice or signal.)
3 Charts of the Day - DIA, APPL, and ETHI did not post this morning because I was interested to see how the markets would sell off. The market did not disappoint. A week ago I posted on how the SPY would be stubborn to break down and it surely has been.
The attention this week has been on the energy sector (RIP to those May contract holders) which has been devastated to say the least by the COVID-19 Pandemic. Which the attention stays with energy, I think we could see some great buy opportunities this week in equities and possibly crypto.
Above is the chart for the DIA, a Dow Jones Industrial Average ETF. It is approaching a confluence of support of the 0.236 and the previous high set a $224.96. The controlled manner of the current 'selloff' has me skeptical of continuation beyond this point.
Earlier I mentioned possible opportunities to buy some equities. Apple may be one to check out. This chart shows how Apple, like the DIA, is attempting to retest the high from earlier in the month. If you do consider going long, do keep in mind the heavy resistance overhead. Keep tabs on your stops.
The last chart is my speculative play of the week. My goodness has Ethereum been stubborn!
Though volatile in spurts, crypto in general has been a snooze fest this month. I guess that's what you get when half your value is lost in less than a week. Ethereum, like the broad market is approaching resistance. The pattern of this rally is indicative of an ABC correction. I'll be selling the red box if we get there this year...
Apple; Breakout or Fakeout?HEADLINE: Breakout or Fakeout?
TICKER: APPL
SUMMARY: Last time we got a buy signal on Apple (APPL) it was a false breakaway event. Currently we are watching for another false breakaway with plans for what happens regardless of which direction price goes.
STRATEGY USED: Momentum Mover
Trend Confirmation = Fractal Trend
Entry Signal = Breakaway Scalper
Exit Signal = Breakaway Scalper OR Orderblock Mapping
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DESCRIPTION:
1. Fractal trend (Green background) is showing Apple in an uptrend and Breakaway Scalper (Green bar color) has confirm a long signal.
2. Last time this combination occurred as highlighted on the chart it was a false breakaway and quickly turned into a shorting opportunity (Red background and Red Bar color). We are generally watching for this to occur again.
3. Otherwise, we are looking for either a retest of the bullish order block S1 support or another test of R1 resistance where price is currently conslidating.
4. If R1 is broken, Apple has a chance to rally to the levels indicated at R2 and R3, above that is an all-time-high for Apple.
5. If S1 is retested then we could look for a reaction off that and a retest of R1.
6. However, we will be looking for a confirmation of a short position if we head to S1 and will be looking for a break below S1 with S2 and S3 as the next targets.
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