AAPL Technical Analysis for Oct. 28, 2024Key Levels:
Resistance Levels:
$232.00: Recent overhead resistance; a strong breakout above this level may signal bullish momentum.
$237.23: A significant resistance level where a potential reversal may occur.
Support Levels:
$230.05 - $227.75: This area shows a cluster of recent support. A breakdown below $227 could see further downside.
$224.00 (Approx): Lower support boundary if price weakens further.
Indicators:
Volume: Elevated volume suggests active trading, but observe if there's declining volume on a pullback, which could imply consolidation.
MACD (lower panel): Shows potential bearish momentum, though it’s near the zero line, indicating a weak trend that may go either way depending on volume.
Suggested Trading Plan:
Bullish Scenario: Look for a strong breakout above $232 with volume, targeting $237 for a quick scalp. Consider a stop-loss around $230 to manage risk.
Bearish Scenario: If the price breaks down below $227 with increasing selling volume, consider entering a short position, targeting $224, with a stop around $230.
Short Disclaimer:
"This analysis is for informational purposes only and not financial advice. Always conduct your own research before making trading decisions."
