AAPL - Irrational Exuberance - Watch for a Pullback - Gapfiller
Quick one on AAPL:
- Tagging 3 ATR on the weekly and daily time frames, suggesting that a pullback is likely
- The trend (as shown from the curved line) has gone parabolic, which is impossible to continue on that path
- Price has become detached from the 9 ema, suggesting that the run has reached a stopping point (most likely for a breather before moving higher)
- There is also a gap on the daily chart visible at around $232-$231, which is likely to be filled
My target would be around the $235 range on the daily time frame (a pullback to the 21 ema)
My broader target (requires a more substantial pullback to occur) is around the $230 range (retracing to the 9 ema on the weekly time frame).
Bear in mind that when the weekly candle ticks over, these targets will change (because they are based on the dynamic targets of the moving average).
- Tagging 3 ATR on the weekly and daily time frames, suggesting that a pullback is likely
- The trend (as shown from the curved line) has gone parabolic, which is impossible to continue on that path
- Price has become detached from the 9 ema, suggesting that the run has reached a stopping point (most likely for a breather before moving higher)
- There is also a gap on the daily chart visible at around $232-$231, which is likely to be filled
My target would be around the $235 range on the daily time frame (a pullback to the 21 ema)
My broader target (requires a more substantial pullback to occur) is around the $230 range (retracing to the 9 ema on the weekly time frame).
Bear in mind that when the weekly candle ticks over, these targets will change (because they are based on the dynamic targets of the moving average).
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