AAPL: About to shift the trend! (D & H chartts)

14 nov

Daily Chart (Left)

Head and Shoulders (H&S) Pattern: A potential Head and Shoulders pattern is forming on the daily chart, with a neckline around the $221.33 level. If this pattern completes and the price breaks below the neckline, it could indicate a bearish reversal, signaling further downside.
Pivot Point: The pivot point at $228.66 is acting as a near-term resistance level. A break above this level could invalidate the H&S pattern, leading to a continuation of the uptrend.
21-Day EMA: The stock is hovering around the 21-day EMA, suggesting indecision in the market. Staying above this EMA could be positive for bulls, increasing the chances of an upwards breakout of the pivot point.

Hourly Chart (Right)

Cup and Handle Pattern: The hourly chart shows a potential Cup and Handle formation, with resistance at the $228.66 level. A breakout above this resistance could lead to a bullish continuation.
EMA Support: The 21-hour EMA has provided dynamic support, keeping the price within the handle formation. Holding this EMA and breaking the resistance could complete the Cup and Handle pattern, signaling further upside in the short term.

Trading Implications:

AAPL is at a crucial juncture. A break above $228.66 would favor a bullish outlook, while a break below the $221.33 neckline would indicate a bearish reversal. For now, we should watch these key levels closely for potential setups.

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Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation.

“To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore

All the best,
Nathan.