• Since our previous post, AAPL did everything it should do, as we expected, filling our last gap, and it hit our key resistance at $152 before doing a top sign yesterday (the link to my previous analysis is below this post, as usual);
• Now, this might indicate a correction, and in this scenario, the Fibonacci’s Retracements are the next support levels to work with;
• Although there’s no clear buy sign right now, any bullish reaction near a key support could be a buy opportunity, with a good Risk/Reward ratio;
• It seems the only thing AAPL has to do in order to correct is to trigger the H&S chart pattern in the 1h chart;
• In addition, the volume is low in the past couple of days, another weakness sign;
• Therefore, I would pay close attention to the retracements from now on, especially if AAPL triggers a bearish pattern in the 1h chart, as there’s a good chance one of them will work as support next.
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• Now, this might indicate a correction, and in this scenario, the Fibonacci’s Retracements are the next support levels to work with;
• Although there’s no clear buy sign right now, any bullish reaction near a key support could be a buy opportunity, with a good Risk/Reward ratio;
• It seems the only thing AAPL has to do in order to correct is to trigger the H&S chart pattern in the 1h chart;
• In addition, the volume is low in the past couple of days, another weakness sign;
• Therefore, I would pay close attention to the retracements from now on, especially if AAPL triggers a bearish pattern in the 1h chart, as there’s a good chance one of them will work as support next.
Remember to follow me to keep in touch with my analyses!
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