AAPL weekly - short-term bullish but overall bearish.
Weekly, 4 weeks ago AAPL broke a major symmetrical triangle with increased volume which indicates we are on a longer-term downtrend. Last two weeks AAPL formed a Bullish reversal pattern called Hammer. It could indicate a short-term up move towards 8 and 20 weeks MA and a blue falling trend line which all will surely act as strong resistance.
Volume indicates an up move and confirmed last week's price move.
RSI is a neutral position.
MACD is pretty bearish, close to oversold territory.
Overall: AAPL could easily bounce up toward the falling trend line from a symmetrical triangle. A strong close above that line, 8 and 20 weeks MA, with strong volume, would indicate a very strong and powerful bullish move towards 165 area.
On the other side, if AAPL consolidates at these levels or starts to move down first major support line is a red dotted line and big red (200 weeks MA).
Volume indicates an up move and confirmed last week's price move.
RSI is a neutral position.
MACD is pretty bearish, close to oversold territory.
Overall: AAPL could easily bounce up toward the falling trend line from a symmetrical triangle. A strong close above that line, 8 and 20 weeks MA, with strong volume, would indicate a very strong and powerful bullish move towards 165 area.
On the other side, if AAPL consolidates at these levels or starts to move down first major support line is a red dotted line and big red (200 weeks MA).
Consistency is the key of success....