Testing Key Support with Custom IndicatorThis chart analyzes Apple Inc. ( NASDAQ:AAPL ) on the hourly timeframe using a custom-built indicator (plotted in blue). The stock appears to be testing a critical support level around $224.50, indicated by recent bounces from this zone. The custom indicator highlights potential overbought and oversold conditions, signaling a possible shift in momentum.
Key observations:
Resistance at $225.50-$226.00 remains strong, capping recent upward moves.
Volume is declining slightly, suggesting reduced momentum.
A break above $226.00 could trigger bullish momentum, while a drop below $224.00 might signal bearish continuation.
Traders should watch for price action near these levels, combined with the custom indicator’s signals, for potential entry or exit opportunities.