AAPL's magical 165 level and why it is so much talked about?!
It is just a major confluence of support! but which also means, breaking below it, would be some serious bearish!
Confluence of support
1. Bull flag from 3 Mar breakout yielding Fibonacci golden 61.8 ==> 165
2. Bear Flag from 1 Aug high yielding a Fibonacci extension of 1.0 exactly to ==> 165
3. MA200 on Daily Chart ==> Around 165
4. Lower Bollinger Band Support ==> Around 165
5. Key volume profile level ==> Around 165
So, how are you going to approach it?
I'm looking at 165 and 150!
@melson @CaptainTiger @Deposit @TigerStars @LMSunshine @macroB
$Apple(AAPL)$
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Comments
That's almost $50 higher than it is now. That's quite optimistic. If it goes that high, then fine. Just don't be disappointed if it falls well short. Three months to see an improvement before the new year. Good luck.