🍎Apple🍎 was able to break the descending channel!!!Apple has been moving in a descending channel for over a year📅.
But it's been a few days since Apple was able to break the upper line of the descending channel , and a valid sign of failure and the completion of a pullback can be a Runaway Gap .
I expect Apple to grow at least until the first 🟡 PRZ (Price Reversal Zone) 🟡.
If you want to know about the types of chats, you can read the following article.👇
Apple ( AAPLUSD ) Analyze, Daily time frame⏰.
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Apple
QQQ OUTLOOK 06/05 - 06/09QQQ crushed it again last week, testing a breakout above the channel we drew last week. Investors will look at Apple’s press conference at WWDC 2023 (Monday at 1:00PM EST). It’s safe to say that whichever way Apple moves, NASDAQ:QQQ will follow.
Technical Analysis: Although we got 2 candle bodies to close above the bullish channel, we still have yet to have a full candle body with wicks close above the trend line. I do think we will have some sort of consolidation this week.
Bulls will want to see price action continue above last week’s open at 352.71. Last week’s .618 retrace is around 350, so look to see if dips will be bought at fib retraces. To the upside, we can target the gap fill above from 356.78-359.93.
Bears will have control if we cannot hold a consolidation within last week’s price range. If we lose last week’s low of 346.51, another significant golden pocket retrace can be found around the monthly level at 338.19.
Upside Targets: 354.65 → 356.78 → 358.97 → 359.93 → 362.54 Extended: 364.57
Downside Targets: 352.46 → 350.72 → 349.65 → 348.54 → 346.51
If we lose last week’s low:
Extended: 344.57 → 341.31 → 339.60 → 338.19 → 336.67
Apple On a Major Resistance, Take a Close Watch on this LevelAAPL has reached a significant resistance level on the weekly chart, showing signs of selling pressure. If the price revisits this level, it could repeat the previous selling pattern. However, if a clear breakout occurs, a new all-time high may be established, indicating a continuation of the current bullish trend.
Apple to ~$177.11Apple has continued to climb easily passing the midpoint pivot giving it a meaningful chance at achieving $177.11. A pull back to $152.20 would trigger a reliable re-entry point. However use caution as earnings season is always preposterous and unpredictable.
A short at $177.11 could be attempted with a very tight stop. A blow through of the d-target would likely signify more run ahead.
Apple Potential Selling SoonTaking a look into Apple, we have some indicators that we may see some selling here soon. It has formed a descending channel.
Indicators:
- MACD is in an average area of a bullish move before a sell off.
- RSI slightly surpassed the last high of Aug 2022 but it is still not overbought yet, we simply have room to head down if it does.
- MFI (Money Flow Index) seems to have peaked and is slightly sinking.
Comments:
We're still waiting on Apple earnings which have been pushed to May 5th for some reason. We do see a head and shoulders have formed. If we do see a sell off which would need to start soon in order to confirm the prediction, we should see a bounce in the HKEX:138 - HKEX:142 area about a month or two into selling, before heading back down. You can confirm this by looking blue arrows. The bounce typically happens in the same timeframe and percentage down after the selling has begun. Further more, this has been the longest bounce since the selling started in early 2022. This rally has about exhausted itself, especially in the face of decaying economic data.
For giggles, I overlaid the Feds Balance Sheet and amazing coincidence when the sheet explodes up, equities also exploded up. The balance sheet rises ALWAYS precedes the markets going up. Tale tale that when Apple started to sell off Feb 23rd, the balance sheet grew THEN Apple's stock prices started to rally yet again. But, as we can see the balance sheet has begun unwinding. Amazing seeing how markets have been weaker and weaker, ending in the red or flat. I believe this is a tale tale sign of another wave down.
There is more talk of banking issues, and now commercial real estate issues. Let's see what transpires by summer. The Fed all but confirmed a recession and blamed it on the banking crisis.
Apple -> Pump Might Be Over NowHello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that Apple stock is currently retesting a quite massive previous weekly resistance area at the $180 level which is now definitely pressing price lower.
You can also see that over the past couple of weeks, Apple had a massively bullish rally of about 45% towards the upside without any real correction, so I am now just waiting for a short term rejection away from the resistance before I then do expect more upside continuation.
On the daily timeframe you can see that market structure is still massively bullish overall, there is no sign of Apple stock slowing down yet, so I am simply waiting for some bearish rejection at the current levels before I then do expect a short term correction towards the downside.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
Apple PeakI used my spread graph formula to analyze Apple's price. Historic prices from as early 1988 to today were considered. Apple recently overtook UK's whole stock market cap. As one of the most important companies in the U.S. (more like in the world) its sole stock price may be a good indicator of the economy's health and world demand. The graph presented is bearish technically. Fundamentally, I believe the upcoming recession will be ruthless for stocks. Apple in particular, potentially losing more market value in relation to U.S. equities. My position arises from America's recent political and economic instability, further projected problems - The changing of world order would see specifically U.S.'s core stocks lose value as quickly as they were gained through debt.
AAPL short position before new ATHThe price is approaching previous all time high where we should see some resistance and profit taking.
It's an area where we can speculate on a short position with a stop loss.
The price has already broke above the upsloping resistance line, so we expect the price to go into discovery mode, however before it's happens we expect that the previous resistance will be back tested and confirmed as a support,which would be our target for a short position.
Once the support is confirmed you can flip bullish.
Apple -> Leading The RallyHello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that Apple stock is approaching a quite obvious previous weekly resistance zone at the $180 level which is now turned resistance again.
You can also see that over market structure is still massively bullish, I am also definitely expecting new all-time-highs on Apple so I am now just waiting for a short term rejection and then I do expect more continuation towards the upside.
On the daily timeframe you can see that Apple stock is still creating bullish market structure with the recent break and retest of the $175 level, so there is still no sign of Apple slowing down, so I will just wait for a short term correction before I then do expect more continuation towards the upside.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
Will Apple be able to update historical maximum? 🍎 Only some 5% remained before the historical maximum.
If stock can do this, then Apple will become the world's first $3 trillion company!
The NASDAQ:AAPL weight in the SP500 also rose to 7.4% - the highest for any single company in the index since data collection began in 1980!
When you watch the Sp500 index go up, it doesn't mean that all stocks go up.
Now the US index is pulled by 2-3 stocks that buy back their shares for billions of dollars.
In the latest report, apple launched a new buyback to $90 billion and increased its dividend.
Fundamentally and technically, the stock is ready to rise to new highs and higher… but I don’t think that will happen and here’s why 📉
1) The main catalyst for growth in recent years is buybacks.
Now the US government is actively discussing the taxation of buybacks.
Without buying back their own shares, companies will not be able to grow, since EPS will not grow.
2) The company has been declining phone sales for several quarters.
Yes, Apple's revenue from phone sales is not the highest share of revenue.
But it should be remembered that the entire ecosystem of the company is growing due to new devices.
3) Remember that buying an asset on highs almost never leads to a profit.
In the context of economic crisis - it will be very difficult for stocks to grow.
FED continues its money withdrawal policy QT - this is bad for all assets.
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APPLE BUYHello, great opportunity to invest in Apple shares. There is a high probability of going up. With breaking the strong resistance at 156. With a model forming. bullish flag.Note: If you like this analysis, please give your opinion on it. in the comments. I will be happy to share ideas. Like and click to get free content. Thank yo
iPhone sales beat but Services is the real star hereApple surprised us with iPhone sales rising to $51.3B vs. estimates of $48.9B. Some of this was likely due to the backlog of customers who were unable to purchase a new phone during the company’s supply crunch in China the previous quarter. We’re most impressed with services growth, which grew +5.5% to $20.1B. An astonishing figure: almost one billion people now use Apple’s services (iCloud, Apple music, Apple TV, Apple Pay, etc). We think as iPhone sales slow Services revenue will become more and more important – when you buy an Apple device you are effectively giving residual royalties to Apple for the rest of the device’s life. Hardware sales fell ~31%, in line with weakening consumer spending for “big ticket items” (aside from iPhones, which continues to surprise). Pleased to see continued buybacks: another $90B of stock repurchases are authorised for this year. Continue see upside as +$190 and downside as $+140 – impeccable results once again. Note that Apple opened its first store in India this year – so far “switcher” numbers (Android users converted to iPhone) are looking good and we think this will be a continued growth area for the company.
Apple -> Short Term TopHello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that Apple stock is currently approaching a quite massive previous weekly resistance area at the $175 level which is now turned strong resistance once again.
You can also see that over the past couple of weeks, Apple stock had a rally of about 35% towards the upside without any noticable correction, so I am now just waiting for a short term rejection away from the resistance area and then I do expect more continuation towards the upside.
On the daily timeframe you can see that Apple stock is still creating bullish market structure and moving averages are also massively bullish, so I am now just waiting for some consolidation and bearish pressure before I then do expect a short term dump away from the resistance area.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset: