Apple
Apple’s stock price is trading in a downward channel on a intra-day time frame (4-hour). This gives us the confirmation that the trend is skewed to the downside and it is likely that it will continue in this direction unless it breaks the upper line of the downward channel. The price has a serious battle with the 50-day moving average. If it breaks to the upside, and remains above it, it would be a good signal for the bulls. However, if the price falls below the 50-day moving average, it is likely that bears are going to remain in control of the price.
The support is shown by green horizontal line and the resistance is shown by red line.
The upward trend line is under threat (shown in orange colour) and it is likely that Facebook’s stock price may break this trend line. Just below the upward trend line, we also have the 50-day moving average and it is likely that the price may actually find some strength there. But the momentum looks strong and there is no sign of any bullish candle pattern emerging. The balance of power is the only indicator which is supporting the price the bull case to a certain degree.
The support is shown by horizontal green line and the resistance is shown by the red line.
