Rising wedge on the weekly chart
In this analysis, I will compare the Apple weekly and daily charts.
On the weekly, we can spot a bearish pattern next to some additional signs. RSI is overbought and the momentum is very weak.
However often, when there is a huge pattern and everyone notices it, the quite opposite happens.
On the other hand: the daily chart is also overbought, but we got huge volume and nice momentum.
However, I expect at least some pullback after we reach the R2 Pivot point.
On the weekly, we can spot a bearish pattern next to some additional signs. RSI is overbought and the momentum is very weak.
However often, when there is a huge pattern and everyone notices it, the quite opposite happens.
On the other hand: the daily chart is also overbought, but we got huge volume and nice momentum.
However, I expect at least some pullback after we reach the R2 Pivot point.
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.