AAPL: Hit our target! What's next for it?
Hello traders and investors! Yes, AAPL did exactly what we expected, again, and we have a few points to update.
First, in the 1h chart, it lost the support at $ 170, and it hit our target at $ 166. In our last analysis, we mentioned how the $ 166 was important for AAPL, and it seems we understand it right. If you want to know why, just read my previous analysis. As always, I’ll leave the link to it below this post.
As usual, since we just hit a target, AAPL is trying to stabilize a little bit. Now is the best time for a reaction, and if it does, the $ 170 is going to be a resistance level for us here. Remember the Principle of Polarity: Previous supports are going to work as resistances in the future.
The trend is clearly bearish in the 1h chart and so far, no bullish reaction. What if AAPL loses the $ 166? The we have two possible targets. The first one is the gap at $ 159.97. The second one if the 61.8% Fibonacci’s Retracement in the daily chart:
Both points are quite close, making it a possible support area in the future.
So far, we see no clear bullish structures on AAPL, but if we do, the stock will have decent chances of reversing for good. The next immediate resistance is the $ 170, and the second one is at $ 177.
Let’s watch it closely from here. I’ll keep you guys updated.
Remember to follow me to keep in touch with my daily analyses.
Have a good day,
Nathan.
First, in the 1h chart, it lost the support at $ 170, and it hit our target at $ 166. In our last analysis, we mentioned how the $ 166 was important for AAPL, and it seems we understand it right. If you want to know why, just read my previous analysis. As always, I’ll leave the link to it below this post.
As usual, since we just hit a target, AAPL is trying to stabilize a little bit. Now is the best time for a reaction, and if it does, the $ 170 is going to be a resistance level for us here. Remember the Principle of Polarity: Previous supports are going to work as resistances in the future.
The trend is clearly bearish in the 1h chart and so far, no bullish reaction. What if AAPL loses the $ 166? The we have two possible targets. The first one is the gap at $ 159.97. The second one if the 61.8% Fibonacci’s Retracement in the daily chart:
Both points are quite close, making it a possible support area in the future.
So far, we see no clear bullish structures on AAPL, but if we do, the stock will have decent chances of reversing for good. The next immediate resistance is the $ 170, and the second one is at $ 177.
Let’s watch it closely from here. I’ll keep you guys updated.
Remember to follow me to keep in touch with my daily analyses.
Have a good day,
Nathan.
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