AAPL Technical Analysis and Trade IdeaRecent rallies in AAPL have stalled, with the 1D chart indicating a possible bearish shift.
Key observations:
- Market Structure Break: A clear break of market structure to the downside, including a lower low followed by a lower high, signals a potential downward trend.
- Fibonacci Retracement: Price action has retraced to the crucial 61.8% - 78.6% Fibonacci zone. This area often acts as a strong support or resistance level.
- Trading Strategy: Consider short entry points within the Fibonacci optimal entry zone throughout February and March. This offers a short-term opportunity with a stop-loss placed above the previous high. Target the previous downswing low as a potential profit-taking point.
Additional Considerations:
Macroeconomic Factors: Stay informed about broader market conditions and news that could impact AAPL's price.
Disclaimer: This analysis is for informational purposes and not financial advice. Always conduct your own research and risk assessment before trading.