Apple is marginally bearish on its 1D technical outlook (RSI = 43.788, MACD = -0.260, ADX = 30.978) as the recent weakness impeded the price from making the decisive bullish break-out above it. The 1W RSI structure though indicates that this is a bottom formation and it is evident on the Channel Up that the April 7th low has been the start of the new bullish wave. The first bullish wave which also started after a -32% correction, made a first peak on the 1.236 Fibonacci extension. We are bullish on Apple long term, TP = 285.00.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.