The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
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Blue lines- Fibonacci retracement levels
green lines- bullish divergence signal
Red line- resistance trend line
AAPL stock price is trading around $178.84. Price recently made a strong bounce despite making new lower lows at $169. Price has now reached the red downward sloping resistance trend line at $182. The lower low in price was not followed by a lower low in the RSI. The RSI provided a bullish divergence. This does not mean we could not see new lower lows. However it is an indication that the downward move is most probably corrective in nature. Recent price action has confirmed that resistance is important at $182 and as long as we trade below it, price will remain vulnerable to more downside. AAPL stock price has already retraced 38% of the entire upward move from December 2022 lows. A shallow retracement would be a bullish sign for the longer-term trend if bulls manage to start a new upward wave with higher highs and higher lows. For the time being we prefer to be neutral if not bearish as long as price is below the red trend line. There is potential for a new lower low towards the 50% Fibonacci retracement level.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
