Apple forms a triangle formation

11.09.2019 / 13:41

Rating:

Apple

Time frame: D1

Technical analysis: The chart shows that the stock price is moving in an upward direction. After peaking at $ 215, the price plunged south, reaching $ 170. At that level, she made a bottom and headed north again. With this, the price has entered a triangular consolidation. At the moment, the price has managed to form 4 points and is heading back for the resistance. There are two options when the price reaches the resistance:

Option 1: The price forms a price action formation, which suggests that the resistance is still active and that the downward movement will continue.

Option 2: Price breaks resistance and continues its upward trend.

Indicators: At this stage, 200 and 50 periodic moving averages support the price strongly.

DeM forms a divergence.

Trader Milko Zashev

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Apple forms a triangle formation

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