AAPL: Losing important supports! What now?

17 ก.พ. 2021

Hello traders and investors! Let’s talk about AAPL today! It lost the support levels we discussed in my last analysis, so, let’s see what’s going on here.

First, we may consider that we have a Descending Triangle chart pattern here, and Apple is near the bottom level of this Triangle, at the black line. Now is a good moment for a bullish reaction, and if AAPL fills the previous gap (yellow area), then it could be an Exhaustion Gap, making the bear momentum weaker.

Let’s see if the daily chart tells something else:



AAPL lost the purple trendline, which we have been discussing for a few weeks, and now the stock is just looking for more supports (if you want to check my previous analyses, the link to them is below).

The $ 130 is a good support candidate, and if AAPL closes above it today, or if we see a false breakout tomorrow this could be a good sign. If it loses this support, then the next stop is the $ 126, but we’ll must wait for some confirmation first.

You may say that we have a H&S chart pattern here, and I won’t disagree, but the chances of it being triggered decreases with the volume. Since the volume is too low, we can’t take any bearish reaction seriously (neither bullish), therefore, we need more patterns that could confirm the next movement, which are several.

Either way, if you want more updates on AAPL, just follow me to keep in touch with my analyses! And please, support this idea if you liked!

Thank you very much!