What’s now, $AAPL ? [ Short-term Analysis]
AAPL is currently facing a significant challenge: the 0.382 Fibonacci level in wave C, the resistance zone at the old peak, a Mean line of the W1 Channel, all converging at the current moment.
On the bullish side, one of the most encouraging signs is that the B-wave correction is not deep. This is an indication of strong upward momentum. Additionally, the momentum across M, W, D timeframes is in harmony—a reassuring signal. We cannot assert that APPLE is incapable of breaking through the confluence of resistance.
What about the bearish scenario?
AAPL is not responding well to this resistance confluence. Not well at all. The weekly candle couldn't close above the old peak, volume at the peak is increasing significantly, and there are signs of distribution here.
This is a delicate situation!
If forced to speculate, I would choose to SELL; however, I would prefer to stay put at this time. Whether Bull or Bear prevails forAAPL, there is always a retest to give us an opportunity. Let's wait for it to happen!
WHAT A WISE TRADER DOES?
On the bullish side, one of the most encouraging signs is that the B-wave correction is not deep. This is an indication of strong upward momentum. Additionally, the momentum across M, W, D timeframes is in harmony—a reassuring signal. We cannot assert that APPLE is incapable of breaking through the confluence of resistance.
What about the bearish scenario?
AAPL is not responding well to this resistance confluence. Not well at all. The weekly candle couldn't close above the old peak, volume at the peak is increasing significantly, and there are signs of distribution here.This is a delicate situation!
If forced to speculate, I would choose to SELL; however, I would prefer to stay put at this time. Whether Bull or Bear prevails for
AAPL, there is always a retest to give us an opportunity. Let's wait for it to happen!WHAT A WISE TRADER DOES?
- If you're holding a Buy position: Move the stop loss to a safe point to preserve profits.
- If you're holding a Sell position: Set the stop loss carefully.
- If you haven't done anything yet? Well, just continue not doing anything!
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