AAPL's Today Session
Current Market Overview
* Price: Trading around $237.21 with a downward move today.
* Volume: Noticeable volume spike during the recent sell-off, indicating active participation.
* Trend: Breaking below key EMAs and weakening momentum suggests bearish sentiment in the short term.
Key Observations
1. Support and Resistance Levels:
* Immediate Resistance: $243.69 (Recent consolidation top).
* Major Resistance: $248.35 (Gamma resistance and prior rejection level).
* Immediate Support: $230 (Critical Gamma level).
* Major Support: $218.20 (Gamma Put Support, recent low).
2. Indicators:
* MACD: Negative crossover, with histogram showing increasing bearish momentum.
* Stochastic RSI: Extremely oversold (below 10), indicating potential for relief bounce.
* Volume Trend: Higher volume in sell candles reflects strong selling pressure.
3. Price Action:
* Bearish momentum has broken, signaling continued downside risk.
* Current rejection at $240 aligns with increased selling activity.
4. Gamma Analysis:
* Highest Call Wall: $250 (resistance zone).
* Highest Put Wall: $230 (critical support zone).
* Market positioning below $240 suggests a shift to bearish Gamma.
Trade Setups
Bullish Scenario:
* Entry: Above $240 on a retest with a strong bullish candle and volume confirmation.
* Target: $243.69 → $248.35.
* Stop-Loss: Below $238.
Bearish Scenario:
* Entry: Below $236 with increased bearish volume.
* Target: $230 → $218.20.
* Stop-Loss: Above $238.
Neutral Play:
* Monitor price action near $230 for a potential bounce or breakdown.
Conclusion
AAPL is showing short-term bearish momentum, but oversold indicators suggest a relief bounce is possible. Watch $230 for support and $240 for resistance as key pivot levels. Traders should use caution in these volatile conditions and keep a close eye on Gamma levels for directional clarity.
Disclaimer: This analysis is for educational purposes only. Always perform your own due diligence and manage risk accordingly.
* Price: Trading around $237.21 with a downward move today.
* Volume: Noticeable volume spike during the recent sell-off, indicating active participation.
* Trend: Breaking below key EMAs and weakening momentum suggests bearish sentiment in the short term.
Key Observations
1. Support and Resistance Levels:
* Immediate Resistance: $243.69 (Recent consolidation top).
* Major Resistance: $248.35 (Gamma resistance and prior rejection level).
* Immediate Support: $230 (Critical Gamma level).
* Major Support: $218.20 (Gamma Put Support, recent low).
2. Indicators:
* MACD: Negative crossover, with histogram showing increasing bearish momentum.
* Stochastic RSI: Extremely oversold (below 10), indicating potential for relief bounce.
* Volume Trend: Higher volume in sell candles reflects strong selling pressure.
3. Price Action:
* Bearish momentum has broken, signaling continued downside risk.
* Current rejection at $240 aligns with increased selling activity.
4. Gamma Analysis:
* Highest Call Wall: $250 (resistance zone).
* Highest Put Wall: $230 (critical support zone).
* Market positioning below $240 suggests a shift to bearish Gamma.
Trade Setups
Bullish Scenario:
* Entry: Above $240 on a retest with a strong bullish candle and volume confirmation.
* Target: $243.69 → $248.35.
* Stop-Loss: Below $238.
Bearish Scenario:
* Entry: Below $236 with increased bearish volume.
* Target: $230 → $218.20.
* Stop-Loss: Above $238.
Neutral Play:
* Monitor price action near $230 for a potential bounce or breakdown.
Conclusion
AAPL is showing short-term bearish momentum, but oversold indicators suggest a relief bounce is possible. Watch $230 for support and $240 for resistance as key pivot levels. Traders should use caution in these volatile conditions and keep a close eye on Gamma levels for directional clarity.
Disclaimer: This analysis is for educational purposes only. Always perform your own due diligence and manage risk accordingly.
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.