Apple IncShort
AAPL Price Analyse
As observed in the chart, the price of APPL has fluctuated in an ascending channel(green lines) and after a while, it penetrates the bottom of that channel and has pulled back to it(red circle area).
Price reaction to the red circle area appeared strongly and now it is seemed to form a new price channel(red line). The negative angle of the recent channel represents a descending one with some evidence of probable bearish market in the future. Due to the fact that the risk/reward ratio is not appropriate here (2H timeframe consideration), it is not recommended to open a position.
Supports:
155.00 --> Bottom of the current bearish trend
150.00 --> Middle line of descending channel
147.15 --> Level 0.382 of fibonacci retracement
129.00 --> Bottom of descending channel
Resistances:
160.00 --> Top of current trend retracement
165.97 --> Level 0.786 of fibonacci retracement
175.94 --> Top of descending channel
Price reaction to the red circle area appeared strongly and now it is seemed to form a new price channel(red line). The negative angle of the recent channel represents a descending one with some evidence of probable bearish market in the future. Due to the fact that the risk/reward ratio is not appropriate here (2H timeframe consideration), it is not recommended to open a position.
Supports:
155.00 --> Bottom of the current bearish trend
150.00 --> Middle line of descending channel
147.15 --> Level 0.382 of fibonacci retracement
129.00 --> Bottom of descending channel
Resistances:
160.00 --> Top of current trend retracement
165.97 --> Level 0.786 of fibonacci retracement
175.94 --> Top of descending channel
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.