Apple Intraday: the downside prevails as long as 305.25 is resistance
Apple (AAPL.US)
-5.94-1.93%
the downside prevails as long as 305.25 is resistance
Our pivot point is at 305.25.
Our preference: the downside prevails as long as 305.25 is resistance
Alternative scenario: above 305.25, look for 307.83 and 309.36.
Comment: the RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 310.05 and 310.77). Finally, the Apple is trading below its lower Bollinger band (standing at 301.87).
Supports and resistances:
309.36 **
307.83 *
305.25 **
301.56 USD - last
298.14
296.61 **
295.09 *
Our preference: the downside prevails as long as 305.25 is resistance
Alternative scenario: above 305.25, look for 307.83 and 309.36.
Comment: the RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 310.05 and 310.77). Finally, the Apple is trading below its lower Bollinger band (standing at 301.87).
Supports and resistances:
309.36 **
307.83 *
305.25 **
301.56 USD - last
298.14
296.61 **
295.09 *
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