Apple -> Short Term Top

١١ مايو ٢٠٢٣

Hello Traders,
welcome to this free and educational multi-timeframe technical analysis .

On the weekly timeframe you can see that Apple stock is currently approaching a quite massive previous weekly resistance area at the $175 level which is now turned strong resistance once again.
You can also see that over the past couple of weeks, Apple stock had a rally of about 35% towards the upside without any noticable correction, so I am now just waiting for a short term rejection away from the resistance area and then I do expect more continuation towards the upside.

On the daily timeframe you can see that Apple stock is still creating bullish market structure and moving averages are also massively bullish, so I am now just waiting for some consolidation and bearish pressure before I then do expect a short term dump away from the resistance area.

Thank you for watching and I will see you tomorrow!

You can also check out my previous analysis of this asset: