I'd like your opinion on AAPL's chart following the comments you made on July 4th and today. Do you see a small head-and-shoulder reversal in the charts, with the left shoulder peaking at the beginning of June, the head peaking around June 21st, and the peak of the right shoulder just last week? If it is an H&S pattern, it looks like it may break the neckline soon if it continues downward. If so, it would coincide well with the MACD and RSI divergence you pointed out. It would also mean the projected downward move of the H&S would be close the 200 day MA.
Could you comment on this?
Thanks for your insights,
I see what you're looking at and I agree with your techincal view and target. So yes it's possible, and that would gel with the divergences. The daily MACD is trying to push lower now.
I rarely if ever trade this stock. If someone is thinking of shorting this I would be very conservative in your trading approach, it's a very aggressive trade. Earlier tonight I wrote: That it could push lower because of the divergences if the market pulls back. The H&S pattern fits if the market pulls back.
The risk is the market doing just a little pull back and then moving higher, and this turns into a false break down. Always know your risk.
Hope all is well.