AAPL continues to face downward pressure on the weekly timeframe after a rejection from key resistance at 211.44. The price has declined to 197.96, traded near the lower Bollinger Band, suggesting potential oversold conditions as it approaches a major support area.
Price action shows a clear rejection at 211.44, followed by a strong bearish continuation toward the lower end of the Bollinger Bands. The current price of 197.96 is near the lower band, signaling that the stock may be in oversold territory. Recent candles show long lower wicks, indicating some demand is starting to emerge.
The Money Flow Index (MFI 14) is currently at 31.10, which is near the oversold threshold and suggests that selling momentum is weakening. However, the overall trend remains bearish as long as the price stays below the mid-Bollinger band and fails to reclaim 211.44 resistance.
Market Observation & Strategy Advice
1. Resistance Level: 211.44 – Recent rejection point, now serving as a key barrier for any bullish reversal.
2. Current Position: 197.96 – Trading below resistance and near the lower Bollinger Band, indicating pressure but also short-term oversold potential.
3. Major Support: 177.49 – A crucial zone to watch; if broken, it could open the way toward 170 or lower.
4. Momentum Indicator: MFI(14) at 31.10, approaching oversold territory — early sign of a potential relief bounce.
5. Strategy Advice: Bearish bias remains valid below 211.44. Short entries may be considered on failed attempts to break above 200–202, with a stop above 211. For aggressive bulls, a bounce trade could be taken near 177.50–180, but confirmation is needed from bullish candlesticks and volume pickup.
Market Performance:
Stocks Last Price % Change
TSLA 241.37 −0.07%
NFLX 973.03 +1.19%
Today’s Key Economic Calendar:
JP: Inflation Rate YoY
CN: FDI (YTD) YoY
US: FED Daly Speech
Risk Disclaimer: This report is for informational purposes only and does not constitute financial advice. All investments involve risk and past performance is no guarantee of future results. Please consult your financial advisor for personalized investment advice.
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