Apple Short Term: the RSI is oversold
Apple (AAPL.US)
-8.46-4.26%
the downside prevails as long as 207.13 is resistance
Our pivot point is at 207.13.
Our preference: the downside prevails as long as 207.13 is resistance
Alternative scenario: above 207.13, look for 216.35 and 221.84.
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 216.57 and 229.02). Finally, the Apple is trading below its lower Bollinger band (standing at 198.93).
Supports and resistances:
221.84 **
216.35 *
207.13 **
203.50
188.38 USD - last
177.05
171.90 **
166.75 *
161.61 **
Our preference: the downside prevails as long as 207.13 is resistance
Alternative scenario: above 207.13, look for 216.35 and 221.84.
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 216.57 and 229.02). Finally, the Apple is trading below its lower Bollinger band (standing at 198.93).
Supports and resistances:
221.84 **
216.35 *
207.13 **
203.50
188.38 USD - last
177.05
171.90 **
166.75 *
161.61 **
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