AAPL
Please correct me if I made a mistake, I am just a beginner. I am only here to learn.
How I interpret this chart is:
- It looks like we are trading in a range, between the 50 Day SMMA and a volume shelf.
- looking at the SPY in the pane below, it looked like the SPY found support.
- in my opinion AAPL and the SPY move pretty synchronized, and I see that when we would rally from this support, we would complete an inverse Head and Shoulders pattern.
- with the right shoulder higher than the left shoulder, thats a good sign, right?
- what I think is positive, is that once breaking trough the volume shelf, it is only ≈5,66% till the ATH of $182,72. Unfortunately I think AAPL and the overall market will need a lot of power to pull this off.
- the last 6 days AAPL found support on the 50 Day SMMA, that level is also protected by the ‘mid line’ of the Fibonacci Levels.
I am very curious to see which way the market will choose to go….
Thank you for reading my interpretation of Apple, please leave a comment, I am very curious about your interpretation.
This is no financial advice.