Here we have the weekly chart for apple and based off of my analysis what I’m seeing is that it is time for the stock to slightly pullback a little. I say this because:
1) the weekly RSI is way overbought
2) the candle is way outside of the Bollinger bands
3) daily chart is extended from the 20ema (have the daily chart in a small channel and it is in between support and resistance)
4) daily RSI is going into overbought territory
I think in the next week or so we can see the 170 level again which is where the 20ema on the daily chart is going to be sitting and where the bottom of my little channel where apple has been trading in the last few days is at.
Let me know your guys thoughts
1) the weekly RSI is way overbought
2) the candle is way outside of the Bollinger bands
3) daily chart is extended from the 20ema (have the daily chart in a small channel and it is in between support and resistance)
4) daily RSI is going into overbought territory
I think in the next week or so we can see the 170 level again which is where the 20ema on the daily chart is going to be sitting and where the bottom of my little channel where apple has been trading in the last few days is at.
Let me know your guys thoughts
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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.