surfingthetrend
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Apple is a title that I like to analyze because it is relatively straightforward, technically speaking. Since its IPO it has grown over 6000%, asserting itself as one of the most powerful companies in the world. Today, even after having lost its charismatic leader, remains in bull mode and nothing indicates that this cycle is close to a reversion.
Nevertheless, in the medium term is likely to experience a slight correction. The high amplitude of the trend line that had been forming since the beginning of the year resulted in an expected correction. Since the last peak, the volumes have been decreasing, showing that the main trend remains bullish. This slight correction is only the normal movement of some investors taking profits.
The price is currently in a support area, which could give the basis for a new upward momentum. My expectation goes for a rebound in this ??support area followed by a break down. Unlike the idea represented in the picture, I do not think that we’ll assist to a direct brake until the consistent long-term ascending trend line. It’s most likely to occur a lateralization until the trend line, followed then (probably) its upward course.
The current point seems to me relatively uncertain for opening a long position, since the supports between this point and the trend line are not relevant. If it reaches the trend line, then yes, it will be a good place to start a long position. Opening short positions in a title so bullish, completely against the prevailing trend, do not seem to be a reasonable option.
Source: Surfing The Trend
Nevertheless, in the medium term is likely to experience a slight correction. The high amplitude of the trend line that had been forming since the beginning of the year resulted in an expected correction. Since the last peak, the volumes have been decreasing, showing that the main trend remains bullish. This slight correction is only the normal movement of some investors taking profits.
The price is currently in a support area, which could give the basis for a new upward momentum. My expectation goes for a rebound in this ??support area followed by a break down. Unlike the idea represented in the picture, I do not think that we’ll assist to a direct brake until the consistent long-term ascending trend line. It’s most likely to occur a lateralization until the trend line, followed then (probably) its upward course.
The current point seems to me relatively uncertain for opening a long position, since the supports between this point and the trend line are not relevant. If it reaches the trend line, then yes, it will be a good place to start a long position. Opening short positions in a title so bullish, completely against the prevailing trend, do not seem to be a reasonable option.
Source: Surfing The Trend
