Apple stock floats higher because, it's Apple. Going forward, CEO John Ternusaround is going to have to bring more to the table. The Duo, or Do Over, is yesterday's spaghetti warmed up in the microwave. Americans cannot afford to pay bills so a new smartphone is likely not on the agenda. Keystone posted the weekly chart a few days ago so price is cooked on the weekly, and also daily time frames, with neggie d.
There was no reason for AAPL price to come up after the top 3 days ago but alas, as said above, Apple is Apple and traders and investors are programmed to hold AAPL stock through thick and thin. If you take a closer look, there is a worm poking its head out of that apple looking back at you. Fiona Apple's voice was Criminal. She's been a bad, bad girl.
The red lines show how price makes new highs, but the indicators continue to slope lower, no longer able to provide strength to push price higher. That means a negative divergence beat down is at hand, for this chart it is in the daily basis. AAPL is in trouble considering both the daily and weekly charts are pieces of garbage displaying neggie d. Plan accordingly.
Note the purple arrows showing the bands squeezing in tight. That forecasts a big move at hand but does not predict direction. Price was squeezed-out higher from 310 to 346 within a month. The upper band is violated so a move to the middle band, the 20-day MA, at 329 is on the table for starters.
People want to believe in Apple but the chart says exit stage right. What happens when the darling of the market, beloved Apple stock, starts taking the pipe? Will confidence in the stock market be lost?
On the 2-hour chart, price may need a few hours to print a higher high to begin the week, and then receive a negative divergence spankdown along with the daily and weekly time frames. The Apple monthly chart is interesting. It is in negative divergence except for the MACD that is in the stratosphere with nowhere to go but down. Apple is printing a major historic top either in this near-term or within the next month or two. The monthly chart will confirm that as the coming weeks play out.
Keystone is not in AAPL long or short right now but obviously the play forward is on the short side. Apple believers are zombies forever believing in the stock. Zombie by The Cranberries. Poor Dolores dead for 8 years. She was a great talent. Great stage presence. Hope for peace. Isn't the concert crowd fantastic? Not one garbage smartphone in sight; that changed in this new century. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
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