Apple set to meet support near 155

업데이트됨

Looks like the Apple met with long term resistance. Just zoom out the chart and you will see that the yellow line represents a trend of high levels reached during this bull market, starting from 2009.

Initially, I expected that the earnings beat would push through the resistance, and got that wrong.. The stock price bounced off it and formed a descending channel pattern during this retracing week. (Well.. it was time to feed the bears. They look rather skinny. :D)

So.. the idea is about the next notable support level. As you can see we got various support levels meeting at 155.

Zoom out, take a look, where they come from and feel free to ask questions.

Yours sincerely,
Y

P.S. I will mark the idea as neutral because it is bearish initially, but afterwards we will see in updates what will happen in regards to the 155 mark.

노트

I should create a church or something and be a prophet s***.

노트

After yesterday's jump Apple has encountered the resistance of a junior channel. Take a look at the hourly below.

In general, I kind of like this slow ascent of various stocks on various days..

From a fundamental aspect, I think that yesterdays chasers are going out and booking short term gains of the rebound, as this is the top stock of the market.

노트

It even extended the decline down to the 150.00 mark.