AAPL is in the down channel and at the moment right at the resistance. AAPL bounce back from the low to the area of FIB 0.5 retracement just as was expected but now did find very strong resistance at the blue trend line and 50 days MA. Next week's reports and we will see how did they do last quarter so please be aware not to trade over financial reports.
The price is between 50 and 200 days MA and 8 and 20 days MA which indicates soon strong move.
Volume doesn't confirm price action, this whole leg up was on weaker volume which is bearish. Friday was the only day with a volume bigger than 20 days average volume.
RSI bounce back from oversold territory and is now neutral.
MACD histogram is ticking up while both the MACD line and the signal line are trying to pass the zero line, which will act as resistance for sure.
Overall> there is a high possibility AAPL will not cross over the presented resistance in the next several days. Friday's options expiration did move the price hard, but now it is expected for the price to cool down and to wait for the report. In the case of a strong up move and daily close above the resistance area red (circle) there is a high possibility AAPl will move very strong in the next several weeks. On the other side, a strong move down from this level on big volume would indicate this was only a bear PullBack and we will see new lows in the first half of the year.
No trade at the moment due to the report.
Consistency is the key of success....