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Apple Inc
Short

Bearish Idea

By xode

  • The major trend is downtrending
  • AAPL revisited the 100 Day MA for the third time on the 1H chart
  • The more time it revisits, the greater the chance it has to break thru
  • AAPL lost the 100 Day MA on the 1H chart
  • Paying attention to the 1H candle isn't finished and still has 25m to change it's formation. There is always the potential of a trap. A lower shadow would be of concern that there is still some support and can potentially create a triple bottom.
  • Price must stay below this level and will probably retest it
  • The lower timeframe the stock is trading below the VWAP & 8-ema, suggesting that buyers are no-longer supporting it
  • Price will most likely come back to retest these levels
  • Monitor that price doesn't break above these levels and stays bearish
  • A rejection would be a great place to enter, imo
  • SPY broke down
  • This is strictly an idea and not advice, there are no guarantees in the market
  • Happy Trading!
Trend Analysis
xode
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