Apple – The Bearish Divergence
APPLE INC NASDAQ:AAPL
Look at the market when the price reached the top at 230.00 level. The price formed a bearish divergence with RSI and MACD . After a breakout below the uptrend line, the market continued the downward movement. The same pattern we have now. The market gives us a new bearish divergence. The local uptrend line was broken and it allows us to think about shorting. The price will be able to start a new downward movement with targets at SMA50, SMA100 or the support levels.
For confirmation the upward movement the price will have to break 200.00 resistance level . Will buyers have the power for such breakout? We will see. Indicators tell us about the possible downward movement more than about the breakout and the continuation of the uptrend.
Source: TW DLavrov