Testing long-term trend support.
Greetings. I'm neutral/bullish on AAPL, based on the recent falling wedge pattern.
1. AAPL is two standard deviations (BELOW) its normal price, which I interpret as a potential opportunity to go LONG.
2. If AAPL holds long term trend support at ~$105, that would be a strong bullish indicator. Even if it breaks trend support, AAPL is bullish all the way to $85 price target.
Weekly: (Bearish)
1. Momentum and MACD are declining.
2. 38% FIBO is current support. AAPL could retrace to 50% and 61.8% FIBO levels, and still be considered bullish, despite a break of the longterm trend support.
Happy Trading!
Disclaimer. My ideas are for informational purposes only. My ideas do not constitute solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments. You should not construe any such information or other comments as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, options and money market funds involve risk of loss. Loss of principal is possible. Please exercise your own due diligence.
1. AAPL is two standard deviations (BELOW) its normal price, which I interpret as a potential opportunity to go LONG.
2. If AAPL holds long term trend support at ~$105, that would be a strong bullish indicator. Even if it breaks trend support, AAPL is bullish all the way to $85 price target.
Weekly: (Bearish)
1. Momentum and MACD are declining.
2. 38% FIBO is current support. AAPL could retrace to 50% and 61.8% FIBO levels, and still be considered bullish, despite a break of the longterm trend support.
Happy Trading!
Disclaimer. My ideas are for informational purposes only. My ideas do not constitute solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments. You should not construe any such information or other comments as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, options and money market funds involve risk of loss. Loss of principal is possible. Please exercise your own due diligence.
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