AAPL is signaling the culmination of a wave 3 extension, suggesting a potential shift in the market dynamics. The recent surge to $195 demonstrated several signs of exhaustion, including a gap up on low volume, a DeMark sequential 9, and a bearish Harami candle pattern. These factors collectively point toward a corrective move.A retrace to the $170-175 range would be a good entry or reaccumulation point. This price range aligns with the 0.382 Fibonacci retracement level and is backed by strong volume support.
For those seeking a deep value opportunity, the $155-160 range could be of interest, but this price range has lower probability in an uptrend this strong.
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.
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.