In my last post I said apple should pull back to support then head higher..
Aapl did pull back to 160 ,
bounced off 21ema
Bounced off trendline
And pushed higher.
We got this level because of an ascending triangle that formed from 144-156.
It looks like we maybe forming another smaller one that could push apple pass that 166 resistance..
Normally when you see a major resistance on a stock it'll usually take lots of volume to break over.. that volume usually will come from a pattern or company news .
Aapl even regained it's RSI trendline support which in the last two bearish reversals it didn't
Only a bear case if we break trendline and close me 21ema.. then you would have a double top
Since we close near 166, I would expect a pullback to 162 first before heading back up..
Any close above 167 is extremely bullish to 171 gap. CLose
Aapl did pull back to 160 ,
bounced off 21ema
Bounced off trendline
And pushed higher.
We got this level because of an ascending triangle that formed from 144-156.
It looks like we maybe forming another smaller one that could push apple pass that 166 resistance..
Normally when you see a major resistance on a stock it'll usually take lots of volume to break over.. that volume usually will come from a pattern or company news .
Only a bear case if we break trendline and close me 21ema.. then you would have a double top
Since we close near 166, I would expect a pullback to 162 first before heading back up..
Any close above 167 is extremely bullish to 171 gap. CLose
Support 164
Resistance 165.33