You should know these KEY POINTS on AAPL.

11 thg 2, 2022

Hello traders and investors! Let’s take a look at AAPL! We have many interesting key points to watch today.

First, in the 1h chart, AAPL did the breakout we were expecting, and it almost hit the resistance at $ 177 ( it missed by a few cents), and now it is dropping again to its support level.

This movement was expected, as it is range trading, like many other stocks, but what is important is to determine its supports/resistances.

I’ll update the resistance I mentioned in our last study to the $ 176.29 area (black line). In addition, it seems we have a nice support level at $ 170.93 (red line), as AAPL retested the area for the 3rd time today, and it is reacting again, or at least it is trying to.

Since AAPL is near support, in theory it should react and go up until it hits its resistance again, however, it must not lose the red line, otherwise this will ruin the bullish structure and the green line at $ 166 would be our next stop.

The green line looks important, as it was both, support and resistance in the past, following the Principle of Polarity in Technical Analysis.



It is important to stress that AAPL is slightly above the 21 ema in the daily chart, and this indicator coincides with the red line in the 1h chart. Meaning, that AAPL must hold at all costs at this dual-support level in order to remain bullish.

In theory, it should retest the $ 176 again, but it is important to watch it closely for the next few hours, as the situation is a little delicate. I’ll keep you guys updated on this.

Remember to follow me to keep in touch with my daily studies, and support this idea if it helped you!

Have a good weekend,
Nathan.