Apple (NASDAQ:AAPL)bounced off of its "branch" or trendline four times on the daily timeframe! It would be nice to see a bounce from the "branch" for a fifth subsequent time. 3 out of the four times APPL bounced, it was trading above the 200 MA! The fact that it bounced a fourth time from the same branch is significant because it was trading under the 200 MA. In my opinion, a candle would need to form under the branch to take Apple to the downside. The formation of a candle under the branch would give us another strong area of confluence. At the point, we could say, "Apple feel from the branch!"
Take a look at the Apple branch and ask yourself, "Will apple bounce off the branch or fall from it?"
In my humble opinion, the branch does not look strong enough to hold this time. A break looks more likely. We will wait and see
MrALtrades00
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@brianlukens24, Thank you for commenting and sharing your view. I am with you on the "We will wait and see". Apple certainly will be an interesting watch over the next few days.
MrALtrades00
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The Apple bounced for the 5th time from the "branch" ; )