Long

APPL chart analysis for for mid october

apple is primed for more consolidation, mini inverted head and shoulders may form tomorrow sending the price up in to a bigger head and shoulder pattern forming the right shoulder. Rsi is on a down trend as of today. I except support to pick up at 216-217 when we hit the lowest trend formed over the past few months. I do not expect the lower trend line to break for even 1 bar it should be a clean tap and go. The chances of this happening overnight are high if a break under 220 occurs by mid day and we lower towards 217 that would be a signal for me to enter 5 minutes before close.

Note

I think shorts will exit at 221 and longs will enter under 221 the original price target of 216-217 is now invalid, I would not expect any lower than 220, long positions look to enter at eod Friday, earnings week is the week to ride to upside if earnings are looking good and if they are expecting good iphone16 sale numbers.

TrendsandCycles

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