AAPL: Time to buy? Hang on.

Hello traders and investors! This correction on AAPL is not a big surprise for us, but for how long will it keep dropping? Let’s see.

Since our previous analysis, AAPL had some key support levels that would trigger a pullback if lost. Now, when will it stop dropping?

Coincidence or not, AAPL is sitting at a very nice bottom candidate right now, which is a Dual-Support level. The first support is the black line at $ 146.81, the previous support; the second one is the purple trendline, which connects the previous 3 bottoms, and it is working a 4th time now.

Let’s take a look into the 1h chart for more clues:


Let’s be clear: Today’s reaction is ok – it is not good or incredible, just ok. We have a shy reaction above the dual-support, but we have no confirmation of a reversal yet, and no bullish structure. The only thing that favors the bulls over the bears is the Risk/Reward ratio.

If I were shorting it, now would be the time to think about booking profits. As someone who’s out of it, I see this as a possible buy. Again, let’s wait for more confirmation.

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Have a good day!