Apple rebounding 1D
Apple has rebounded on a maxi support ($ 125 - $ 140) which originated in August 2020 (as resistance) until July 2021 where the price passed $ 140.
It currently appears to anticipate the market by breaking a Falling Wedge with a rising low on a daily chart.
Now we can trace the first FIbonacci Extension which will designate precisely the extent of this bounce.
Apple is in a rebound phase even if it has to beat the 3 resistances in place (red rectangles).
However, it is too early to assess whether the bear market is over.
The market needs confirmation on the weekly chart and the Nasdaq 100 and S&P 500 Index still have a long way to go to be able to tell if the market has entered a bullish phase.
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It currently appears to anticipate the market by breaking a Falling Wedge with a rising low on a daily chart.
Now we can trace the first FIbonacci Extension which will designate precisely the extent of this bounce.
Apple is in a rebound phase even if it has to beat the 3 resistances in place (red rectangles).
However, it is too early to assess whether the bear market is over.
The market needs confirmation on the weekly chart and the Nasdaq 100 and S&P 500 Index still have a long way to go to be able to tell if the market has entered a bullish phase.
If you liked the analysis, put a like and leave a comment
Thanks for reading, a cordial greeting from LPI and its staff.
LPI - Grow with Us
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