Apple – After disappointing earning, What technical analysis is …

ByNaeem Aslam - Chief Market Analyst facebook, important-zone594-581, linkedin, pinterest, price, push-the-price, resistance, rsi, stumbleupon, supportshare, symmetrical, tumblr Comments Off

Apple is trading in an upward wedge pattern on a 4 hour time frame. If the price breaks out of this pattern to the downside, there is usually a big move to the downside. Within this pattern, we also have the symmetrical triangle pattern formed and the downward projection of this, could push the price towards the support area which we have mentioned below.

The RSI is also trading in line with the price action which means that the bias could be to the downside.

Important Zone

594-581 Resistance

491-475 Support

Author

Naeem Aslam - Chief Market Analyst