THIS IS NOT READY FOR ENTRY BEARISH IMO.....YET
I will update once I enter or see a position entry upcoming.
AAPL Weekly RSI is 84. Extremely overbought.
Weekly bullish trend has remained bullish since June.
Angle of price around 45 degrees is not sustainable at this time length. It's simply gone on too long.
With gaps to fill down to $99, there is significant downside risk although I don't think we fill all these gaps necessarily.
The blue line support is log resistance with multiple points of contact.
Price has currently exceeded log resistance, which is the reason why its "in limbo" above price currently.
EMA cross is currently around $247. But this can change, since its exponential average.
If we get below $247 close on a Daily candle, this should signify the bearish EMA cross to confirm downtrend.
The 10WeekMA is around $260 which is also a suitable entry point for bearish bias.
I understand AAPL has some high price targets in 2020.
I simply find it fundamentally irresponsible at this perspective to be bullish on AAPL.
I am bullish on AAPL long-term as a company and consumer product/service provider.
Here is the AAPL Outter Space Chart. Although the log resistance has been exceeded with the Fed "not QE" fomo rally.
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long BTCUSD, GBTC. Short-term NFLX
I will update once I enter or see a position entry upcoming.
AAPL Weekly RSI is 84. Extremely overbought.
Weekly bullish trend has remained bullish since June.
Angle of price around 45 degrees is not sustainable at this time length. It's simply gone on too long.
With gaps to fill down to $99, there is significant downside risk although I don't think we fill all these gaps necessarily.
The blue line support is log resistance with multiple points of contact.
Price has currently exceeded log resistance, which is the reason why its "in limbo" above price currently.
EMA cross is currently around $247. But this can change, since its exponential average.
If we get below $247 close on a Daily candle, this should signify the bearish EMA cross to confirm downtrend.
The 10WeekMA is around $260 which is also a suitable entry point for bearish bias.
I understand AAPL has some high price targets in 2020.
I simply find it fundamentally irresponsible at this perspective to be bullish on AAPL.
I am bullish on AAPL long-term as a company and consumer product/service provider.
Here is the AAPL Outter Space Chart. Although the log resistance has been exceeded with the Fed "not QE" fomo rally.
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long BTCUSD, GBTC. Short-term NFLX