AAPL: Doing exactly as expected. What's next?

2022년 6월 9일

Hello traders and investors! Let’s see how AAPL is doing today! It did exactly what we expected it would, since our last analysis. Now we must update our thoughts.

First, in the 1h chart, it did what it was supposed to do, and it dropped to the $ 144 area to fill the gap (blue square). Since this gap was around the 38.2% Fibonacci’s Retracement, the price found support there, and now it is bouncing back up. For us, this is not a surprise, as I already detailed this movement in my last analysis (link below this post, if you are curious), but the recent movement has some interesting implications.

Despite the congestion, we still see an open gap at $ 150, and this could help the price to retest its previous resistance at $ 151. Meanwhile, any correction to the $ 144 is ok, but again, if we lose this point, then any possible bullish thesis will be frustrated for now.



In the daily chart, we are still bearish, doing lower highs/lows and below the 21 ema. However, if we break the 21 ema again, AAPL will have decent chances of retesting the $ 151 again. Now, this alone is not a bullish reversal, but if we actually break the $ 151, then we’ll see a bullish pivot point.

If AAPL triggers this pivot point, by doing a higher high/low, it’ll reverse the bear trend in the daily chart, and in this scenario, we could think about the gap at $ 174 (red dashed line).

But we must wait for better signs, as for now, it is still a bear trend with low volume. I’ll keep you guys updated on this, so remember to follow me to keep in touch with my daily analyses.