NATURAL BEAUTY BIO-TECHNOLOGY stock forum
AAPL is chopping around a very important level in the $152-$157 range. At each of the blue circles below, notice how a major top occurred around $156-$158.This S/R zone also extends lower to $150-$152 at its lower edge, and this zone has been critical support / resistance since 2021
The VWAP anchored to the ATH is providing major resistance as well, showing confluence with price resistance. This VWAP is black on the chart below:
tradingview.com/x/cD1XWpDZ/
Also note how price is struggling at the VWAP from the ATH. Price closes above it a few times over the past few weeks, likely trapping bulls, but it gets pushed back below. But bears haven't had it easy either, as breaks back below are not following through. Chop has been the name of the game. Like the markets in general, AAPL is really tough to call right here. I wouldn't be surprised to see more chop around this VWAP. It may be that the FOMC meeting on March 22 decides the trend for the next few weeks.
Until price breaks out of this key equilibrium zone between $150-$158, short-term trends will remain murky and unclear.
Don't be surprised to see more trappy action around this zone and the ATH VWAP.
It might be worth trying a short around $156-$157 with very tight risk—a stop just above this level. The risk / reward is good b/c above the VWAP and above this $157 zone, the downside is delayed until price falls back below. So the parameters of a trade to the downside are clear and very close.
Let's see what happens.