Falling Wedge - AAPL
Here we have the Apple Stock on the Daily Chart showing signs of a Falling Wedge!
Consisting of Lower Highs and Lower Lows into a Pinch Point where typically we should get a BULLISH break!
Technically, if we want to see this stock rise again, we need a good break of the Falling Resistance of the Wedge and with current news events and movements the tech giant is doing, we could be seeing it soon!!
Fundamentally, Thursday Earnings showed positive results where Q4 results came in less than great for AAPL where it had shared sales have dropped globally for the fourth consecutive quarter, in China dropping -2.5%.
tradingview.com/news/DJN_DN20231104001395:0/
Today, news was released that rumors of the iPhone 16 features exceeding that of the iPhone 15's Camera and Zoom and with a huge Tech Investor, Gene Munster calls for a reassessment of the Q4 results saying they are "Exaggerated".
tradingview.com/news/benzinga:b0182f3b0094b:0-this-week-in-apple-iphone-16-expectations-wall-street-s-overreaction-on-q4-guidance-and-more/
*Chart Patterns are known to fail 1/3 of the time so BEWARE OF FALSE BREAKS!!
Consisting of Lower Highs and Lower Lows into a Pinch Point where typically we should get a BULLISH break!
Technically, if we want to see this stock rise again, we need a good break of the Falling Resistance of the Wedge and with current news events and movements the tech giant is doing, we could be seeing it soon!!
Fundamentally, Thursday Earnings showed positive results where Q4 results came in less than great for AAPL where it had shared sales have dropped globally for the fourth consecutive quarter, in China dropping -2.5%.
tradingview.com/news/DJN_DN20231104001395:0/
Today, news was released that rumors of the iPhone 16 features exceeding that of the iPhone 15's Camera and Zoom and with a huge Tech Investor, Gene Munster calls for a reassessment of the Q4 results saying they are "Exaggerated".
tradingview.com/news/benzinga:b0182f3b0094b:0-this-week-in-apple-iphone-16-expectations-wall-street-s-overreaction-on-q4-guidance-and-more/
*Chart Patterns are known to fail 1/3 of the time so BEWARE OF FALSE BREAKS!!
Novi_FIbonacci
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