AAPL daily - likely continuation of bullish move

8 janv. 2023

AAPL daily - was in a large symmetrical triangle that it broke on Dec. 16.
On 21 Dec AAPL retested that symmetrical triangle, lower trend line (blue), 8 MA, and failed. Now the price consolidates with Friday's strong bullish move. Price closed above 8 MA which is bullish.
AAPL is still below major MA (20, 50, and 200) which is bearish.
Volume confirmed price move on Friday.

RSI is moving out of oversold territory which is neutral, but there are small bullish divergences meaning the price is at the same level while relative strength is not.
MACD histogram is smaller and smaller while the MACD line is trying to move above the signal line which could indicate a very strong bullish momentum.

Overall: in the short term (several days), there could be a consolidation of the price and a smaller growth towards the 134 and 137 area or FIB 0.382 and 0.5. There will be a huge resistance area: those 2 FIB, green 20 days MA, red falling trend line, and blue upper line _ the area which AAPl will hard break. In that case, AAPL would create the conditions for a strong bearish pattern called Bear Pullback and a possible new strong downtrend. Only a daily close above that area on strong volume could indicate longer-term bullish momentum.
Closing below this week's low would indicate a more bearish move toward the red-dotted support line.

12 janv. 2023

Trade fermée: cible de profit atteinte

Close half as we reach the first target. Stop loss is below yesterday's low and still not in the money full.

17 janv. 2023

Trade fermée: cible de profit atteinte

Position closed completely.
Entered in position at 131,07. First half exit at 134,06 and second half at 134,94.