AAPL: Our next support levels! Complete trend analysis.
Hello traders and investors! Let’s update our thoughts on AAPL today.
In the 1h chart, AAPL filled the previous gap, and it lost the previous support at $ 170, reversing the trend and now it looks bearish. The next support for it is the $ 166 area (green line). Any reaction there could be a buy sign, but we must wait for confirmation.
If AAPL loses this green line, then the next support level is the gap at $ 159.
In the daily chart, AAPL is quite weak, trying to lose the 38.2% retracement. Usually, when a stock respects the 38.2%, as AAPL did on Feb 14, if it drops again it ignores the 50% and goes straight to the 61.8%.
The 61.8% retracement is going to be a strong support for AAPL, if it drops to this point. Now only because it is an important retracement, but because it is exactly where the 21 ema is in the weekly chart:
Lon-term speaking, AAPL is still bullish, and a pullback to its 21 ema wouldn’t change this view. For now, we must keep our eyes on the $ 166 area, as it is our immediate support level, and wait for more signs.
I’ll keep you guys updated, so remember to follow me to keep in touch with my daily analyses.
In the 1h chart, AAPL filled the previous gap, and it lost the previous support at $ 170, reversing the trend and now it looks bearish. The next support for it is the $ 166 area (green line). Any reaction there could be a buy sign, but we must wait for confirmation.
If AAPL loses this green line, then the next support level is the gap at $ 159.
In the daily chart, AAPL is quite weak, trying to lose the 38.2% retracement. Usually, when a stock respects the 38.2%, as AAPL did on Feb 14, if it drops again it ignores the 50% and goes straight to the 61.8%.
The 61.8% retracement is going to be a strong support for AAPL, if it drops to this point. Now only because it is an important retracement, but because it is exactly where the 21 ema is in the weekly chart:
Lon-term speaking, AAPL is still bullish, and a pullback to its 21 ema wouldn’t change this view. For now, we must keep our eyes on the $ 166 area, as it is our immediate support level, and wait for more signs.
I’ll keep you guys updated, so remember to follow me to keep in touch with my daily analyses.
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