AAPL looks like it's hitting some near term resistance, I don't think it will have much effect on the short term trend of symmetry though.
When I wrote about AAPL symmetry in the context of a H&S top, the area is somewhere around $680 -$690 for a second shoulder, but although it's less common, we do have to keep in mind other possibilities such as a Broadening top.
As for today's trade in AAPL...
There's some resistance here at the 10-day ma.
On the intraday charts it looks like this....
1 min AAPL
2 min
3 min
However the 5 min is still in line
When considering the most probable outcome, I think the second right shoulder is still high as this 15 min chart's leading positive divergence shows.
Longer term considering the probability of a H&S -like top, the 4 hour chart's leading negative divergence in the area seems to tell the final chapter.
Is interest rates about to start going up?
-
Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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