$AAPL closed the week below its daily 200 SMA line and below its weekly 50 SMA line - Major bearish alert on $AAPL.
There's bullish harmonic pattern forming on $AAPL with completion near 108$ which could be an interesting buying zone to trade a possible pullback move.
Since $AAPL didn't quite get to the Potential Reversal Zone (PRZ), I'm showing two different trading scenarios for you to monitor and maybe trade if they play out according to the plan:
1. $AAPL rallies back to 122$-125$ from current levels - If $AAPL will not decline lower towards 108$ and rally from current price level, it could present a bearish continuation setup near 122$-125$ zone that includes major structure and the 200 SMA line (now resistance). The final target for this scenario will be the completion of the bullish Bat near 108$.
2. $AAPL will decline towards 108$ and complete the bullish Bat - Bullish setup with stop loss below X and final target near 122$-125$
This analysis is part of this week's Weekly Markets Analysis newsletters - goo.gl/AGTYS1
You can subscribe to my weekly newsletters here: goo.gl/HXjCPV
There's bullish harmonic pattern forming on $AAPL with completion near 108$ which could be an interesting buying zone to trade a possible pullback move.
Since $AAPL didn't quite get to the Potential Reversal Zone (PRZ), I'm showing two different trading scenarios for you to monitor and maybe trade if they play out according to the plan:
1. $AAPL rallies back to 122$-125$ from current levels - If $AAPL will not decline lower towards 108$ and rally from current price level, it could present a bearish continuation setup near 122$-125$ zone that includes major structure and the 200 SMA line (now resistance). The final target for this scenario will be the completion of the bullish Bat near 108$.
2. $AAPL will decline towards 108$ and complete the bullish Bat - Bullish setup with stop loss below X and final target near 122$-125$
This analysis is part of this week's Weekly Markets Analysis newsletters - goo.gl/AGTYS1
You can subscribe to my weekly newsletters here: goo.gl/HXjCPV
