Multi-Timeframe analysis: Apple (May 2021)

31 พ.ค. 2021

Multi-Timeframe Analysis:

Hourly Chart: Flat Top (Neutral)

Daily Chart: Flat Top (Neutral), rejected from 50 EMA, trading near its support level

Weekly Chart: Flat Top (Neutral) 5 red weeks in a row, last time it happened was October 2018, followed by a 30% correction (Bearish)

Monthly Chart: Flat Top (Neutral)

Daily average trading value (YTD): Trading 32% below YTD (money outflow) (Bearish)

Weekly average trading value: lowest since November 2020, 38% below last trading year. (Bearish)

Monthly average trading value: lowest since February 2020. (Bearish)

Conclusion: Wait to see if Apple can hold its support line, (be ready for closing your positions if you have the stock)
The most concerning point is :
Whenever Apple's average trading value dropped below its 12 monthly average we saw a correction to the level of 50 EMA/monthly.



Moshkelgosha

3 มิ.ย. 2021

บันทึก

Apple is about to lose its support level! daily closure below its support strong signal to close the long position