AAPL: Key points for the medium and long term. (D&W Charts)Looking at the daily chart of AAPL, there is a noticeable bullish reaction above the 38.2% Fibonacci retracement level, indicating that buyers have stepped in to defend this level. This suggests that there could be some bullish momentum building from this area, especially as the price begins to rise after this pullback. The 38.2% Fibonacci retracement has provided solid support, and the current price action suggests that the stock could challenge previous highs if this level holds. The next key resistance would be around $233, which represents the most recent high.
On the weekly chart, the key zone marked in yellow highlights an area of significance where price action has previously reacted both as resistance and support, another example of the Principle of Polarity. The current bounce from this zone reinforces its importance, particularly as the stock has used this area to pivot higher in the past. The strong move back up from just under $200 shows a possible bullish continuation pattern if the stock manages to hold above this key level. The 21-week EMA is providing dynamic support and is still trending upward, which supports the overall bullish outlook.
In summary, AAPL has found support at a critical Fibonacci level and historical support zone, and if the stock can sustain momentum above these areas, it could challenge its previous highs. The price action on both the daily and weekly charts suggests a potential bullish continuation, especially if these support levels hold.
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“To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore
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Nathan.