Apple is forming a nice bull flag. It looks like it was almost a false breakout from an inverse head and shoulders and now has been consolidating in a channel that could be indicative of a bull-flag or cup & handle formation. Both scenarios are very bullish. It is also sitting right below is long-term lower trendline it has held since March.
If we pop back up into this channel, break $119, and resume off of that point as support, we are looking at a very nice trade setup.
Three days until earnings and one week before elections, I expect volatility to spike. Technically this looks perfect right now, but it could breakdown further.
As always, this is not financial advice!
If we pop back up into this channel, break $119, and resume off of that point as support, we are looking at a very nice trade setup.
Three days until earnings and one week before elections, I expect volatility to spike. Technically this looks perfect right now, but it could breakdown further.
As always, this is not financial advice!