Chart you are seeing above is the 65-mins time frame chart of Apple (NASDAQ:AAPL).
This formation is what we call a Bullish Divergence formation in an early stage.
While the oscillators creates higher lows, the price-action creates lower low, hence the "divergence."
As of today, we do not have the full confirmation of this divergence, not just yet.
But in the event that the price clears and stays above the 112, that will be when this bullish divergence fully confirms, and when that happens, I do believe the price-action will draw in more buyers thus putting the price higher to about 117-118.
So then the question is, how do we know if this will play out or not?
This 100-day MA has been acting as strong resistance in late May and late July of this year, so it may act as strong support here.
Let's see how it plays out in the next 1-2 weeks.
Add a Comment
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.