The AAPL chart reads bearish sentiment.
Note that the series of three upward impulses is weakening. Each successive one has a less sharp angle, which means demand is exhausted. It is also important that:
→ the first impulse has maximum volume (a sign of a FOMO climax);
→ the second impulse ended with a false breakdown (ATH trap)
→ the support line of the third impulse began to work as resistance.
Weak volumes on February 9 on a gap up attempt suggest a shortage of buyers. Decline on February 10 on rising volume confirms bearish sentiment.
I expect the development of downward dynamics.
→ the first impulse has maximum volume (a sign of a FOMO climax);
→ the second impulse ended with a false breakdown (ATH trap)
→ the support line of the third impulse began to work as resistance.
Weak volumes on February 9 on a gap up attempt suggest a shortage of buyers. Decline on February 10 on rising volume confirms bearish sentiment.
I expect the development of downward dynamics.
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