APPL about to make a move!

APPL seems to be using the 180 area as support which was a structural resistance last October. It made a descending triangle in Q3 of 2023 before breaking out to the upside until December. APPL is making a similar move within a triangle and I'm waiting for a breakout.

Price action is making lower lows pretty drastically so I'm thinking this might break out to the down side. If that happens, I'll be taking profits at the vwap and checking lower timeframes for continuation or reversal from there.

Conditions:
- Descending triangle,
Entry:
-
Stop:
-
Target:
-

Notes:

Divergence: N/A
Pattern(s): Descending Triangle
EMA: Hourly - above price / daily - 200 EMA at strong support
Volume: 182.60
VWAP: Below price
Overbought/sold: N/A
Fibonacci: Price in Golden Zone

Transaction en cours:

Conditions:
- Descending triangle, Breakout, RSI Divergence
Entry:
-Market open
Stop:
- 2/28's high (183.12)
Target:
-VWAP (173 area)

Notes: Price breaking through triangle - I expect a big move down today (down 1.79 overnight)

Divergence: Daily - 2/2 > 2/29
Pattern(s): Descending Triangle
EMA: Breaking the 200
Volume: N/A
VWAP: Below price
Overbought/sold: N/A
Fibonacci: Price under Golden Zone

Commentaire:

I'm interested to see what this does today. We could be looking at another swing up before crashing down. Weekly charts show a possible ascending triangle with higher lows and "equal" highs. If that's true, we should probably see the start of a bounce back up today as price is currently in the fib golden zone from the recent low.