Nshit
Apple set to meet support near 155Looks like the Apple met with long term resistance. Just zoom out the chart and you will see that the yellow line represents a trend of high levels reached during this bull market, starting from 2009.
Initially, I expected that the earnings beat would push through the resistance, and got that wrong.. The stock price bounced off it and formed a descending channel pattern during this retracing week. (Well.. it was time to feed the bears. They look rather skinny. :D)
So.. the idea is about the next notable support level. As you can see we got various support levels meeting at 155.
Zoom out, take a look, where they come from and feel free to ask questions.
Yours sincerely,
Y
P.S. I will mark the idea as neutral because it is bearish initially, but afterwards we will see in updates what will happen in regards to the 155 mark.
