Asset Watch
Thursday, April 19, 2023
The red and black lines at the bottom of the chart represent the MACD and signal lines. If you analyse the vertical grey lines, you can see that when the MACD line drops below the signal line, ominous outcomes often follow.
The recent rally, trendline resistance, and the MACD reading rival the peaks from March/April and August 2022. Unless Apple can clear the upper trendline and the MACD rises above the signal line, caution is warranted in the weeks ahead.
So, will Apple succumb to the bearish backdrop, or is a breakout on the horizon?