AAPL is actually a short next week, imo, at least for pullback.
It was pretty transparent on Friday, not participating in the rally and struggling to maintain the bullish condition.
That said, I don't think it will spend the whole week bearish, but I do think we may snag those low targets at some point this upcoming week.
If we look at the Heikin Ashi chart we can see the ascending wicks on the 2 hour chart, putting the TP at around the second forecasted low target:
As always, I could be wrong so watch those conditional levels, but this one is a pretty clear setup and AAPL is clearly losing bullish momentum.
Safe trades!
It was pretty transparent on Friday, not participating in the rally and struggling to maintain the bullish condition.
That said, I don't think it will spend the whole week bearish, but I do think we may snag those low targets at some point this upcoming week.
If we look at the Heikin Ashi chart we can see the ascending wicks on the 2 hour chart, putting the TP at around the second forecasted low target:
As always, I could be wrong so watch those conditional levels, but this one is a pretty clear setup and AAPL is clearly losing bullish momentum.
Safe trades!
Comment:
Sorry I realize I made these charts too big and its difficult to see the price action.
The indicator expansion to do the leg work of plotting for me is new and still some kinks to figure out.
In terms of AAPL, it went down to PL1 and isgoing back up to re-test the threshold levels. QQQ is making a break for, probably its first weekly high today.
The conditional levels (teal box) should lead to a rejection on AAPL and a smack back down. I say this because there is building bearishness on QQQ as well and the move its doing is leaving a lot of targets that need to be hit behind.
Safe trades everyone!
The indicator expansion to do the leg work of plotting for me is new and still some kinks to figure out.
In terms of AAPL, it went down to PL1 and isgoing back up to re-test the threshold levels. QQQ is making a break for, probably its first weekly high today.
The conditional levels (teal box) should lead to a rejection on AAPL and a smack back down. I say this because there is building bearishness on QQQ as well and the move its doing is leaving a lot of targets that need to be hit behind.
Safe trades everyone!
Comment:
No threshold re-test as of yet but I am short on it:
It is possible we finish the move up to re-test those conditionals before heading back down.
QQQ almost at new ATH but rejected just before.
Could see it circling back to re-test the actual ATH and then maybe see an initial sell at that point.
Time will tell!
It is possible we finish the move up to re-test those conditionals before heading back down.
QQQ almost at new ATH but rejected just before.
Could see it circling back to re-test the actual ATH and then maybe see an initial sell at that point.
Time will tell!
Comment:
First pesudo target reached:
As state above, the expectation was a re-test of the weekly conditions. We have tested them and, as of current, are holding below.
The divergence among tech is absolutely crazy, especially if you consider how QQQ and the NAZ is just ushing up despite most of tech really being quite week.
If the rejection and hold below is held into tomorrow, we will see a move to PL1 and potentially PL2.
If we break back over the bearish condition (orange line), the move is to the bullish condition (Aqua line).
Outlook on AAPL: Bearish unless bearish condition (orange line) broken into tomorrow.
As state above, the expectation was a re-test of the weekly conditions. We have tested them and, as of current, are holding below.
The divergence among tech is absolutely crazy, especially if you consider how QQQ and the NAZ is just ushing up despite most of tech really being quite week.
If the rejection and hold below is held into tomorrow, we will see a move to PL1 and potentially PL2.
If we break back over the bearish condition (orange line), the move is to the bullish condition (Aqua line).
Outlook on AAPL: Bearish unless bearish condition (orange line) broken into tomorrow.
Comment:
pushing*
Trade closed: target reached:
PL1 reached, and a bit lower. AAPL is actually I think the most bearish stock of the day.
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But for reference: