Apple Retrace: Power of Fibonacci!?!?

28 Jul 2016

Hello! Apple beating estimates on prices skyrocketed to our 1.382 Fibonacci and appears to be bouncing in between the 1.382 and 1.236. Assuming that the 1.382 is not broken there could be a nice retracement to the 61.8 fib of the total move or possibly even to 50.0 of the move at support before continuing up or coming back down. RSI and Stochastic both support on a 1 hour overbought signal. RSI also supports it on a 4 hour with an overbought signal.