AAPL's Daily Candle Soars Above Bollinger Band: A Sign of Correction or Continuation?
$Apple(AAPL)$ 's Daily Candle Soars Above Bollinger Band: A Sign of Correction or Continuation?
Apple's daily candle is currently trading significantly above its upper Bollinger Band, a level unseen since September 2nd, 2020, or July 31st, 2019; when a pullback followed the spike.
This raises the question: is a pullback towards the Bollinger Band inevitable, or can the uptrend continue?
Historically, a reinsertion into the Bollinger Band zone seems likely. Interestingly, the only instances since 2009 where the price continued its uptrend without revisiting the 20-day moving average (20DMA) were February 1st, 2017, and January 25th, 2012.
Here's the key takeaway: Maintaining support at $179 is crucial to avoid the more likely scenario of a price correction.
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