DOW Theory Consolidation & Long AAPL
Apple Inc has recently recovered from a head & shoulder formation. The recovery of the price since the bottom of the head and shoulder formation seems to have recovered to more than the 61.8 Fibonacci, meaning that we can expect the price of Apple to continue being bullish. However, we can also expect a consolidation back to the 38.2 level of the last power move, which has not been touched yet, and which coincides with the strong head and shoulder support. After that, we can expect Apple to make a new high. However, keep an eye on US indices for more reference. Also watch out for a possible negative movement from the ma 21 and 55 death crossing.
NOT FINANCIAL ADVICE!
NOT FINANCIAL ADVICE!
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