Technical bounce in AAPL for a short term trade
After breaking the long term trend, AAPL managed to catch up and consolidate this rebound as a false breakout . Further, the stock bounced off the 50 % of the long term Fibonnaci retracement, so the long-term trend remain in force.
Based on the false breakout and moving averages of 20 and 40 periods , the stock is likely to rise up to 116.90. Stop loss should be placed below the candle at 102.70 Tuesday .
Based on the false breakout and moving averages of 20 and 40 periods , the stock is likely to rise up to 116.90. Stop loss should be placed below the candle at 102.70 Tuesday .
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