AAPL – Aaple, Inc.

Updated July 5, 2019

Daily chart: One month and I surely underestimated the strength of the current bounce/rally. Contrary to several major indices AAPL has not made a new ATH and is not even above its May high (so are all other FAANG stocks). Price is above its rising 20, 50 and 200d SMAs which is by itself Bullish. But, there’s negative divergence developing on the technical indicators and a possible rising wedge is forming as well. With money flow not confirming the recent rally, upside seems therefore more limited than downside risk. But critical levels have not been broken yet, so as long as price stays above its 50d SMA the Bulls are in charge. Below the 200d SMA and a new possible Bear is underway as Bull markets happen with price above the 200d SMA.

Monthly chart: Cycle-3 should have topped and Cycle-4 is underway. Red rectangle is ideal target zone for this wave, as it would close the monthly (and very rare) gap as well as comply with a simple c=a relationship AND that level was Primary-III and thus strong support.