Will Apple Bounce Off The Branch Or Fall From It?
Apple (
AAPL
)bounced off of its "branch" or trendline four times on the daily timeframe! It would be nice to see a bounce from the "branch" for a fifth subsequent time. 3 out of the four times APPL bounced, it was trading above the 200 MA! The fact that it bounced a fourth time from the same branch is significant because it was trading under the 200 MA. In my opinion, a candle would need to form under the branch to take Apple to the downside. The formation of a candle under the branch would give us another strong area of confluence. At the point, we could say, "Apple feel from the branch!"
Take a look at the Apple branch and ask yourself, "Will apple bounce off the branch or fall from it?"
Peace & Prosperity,
Al
Apple (
AAPL
)bounced off of its "branch" or trendline four times on the daily timeframe! It would be nice to see a bounce from the "branch" for a fifth subsequent time. 3 out of the four times APPL bounced, it was trading above the 200 MA! The fact that it bounced a fourth time from the same branch is significant because it was trading under the 200 MA. In my opinion, a candle would need to form under the branch to take Apple to the downside. The formation of a candle under the branch would give us another strong area of confluence. At the point, we could say, "Apple feel from the branch!" Take a look at the Apple branch and ask yourself, "Will apple bounce off the branch or fall from it?"
Peace & Prosperity,
Al