Nice gains for AAPL shares on Tuesday for a new one-week closing high as the RSI is turning positive. First fibo-support has helped AAPL stage a rebound from 1-month lows marked last week.
The MACD is still on a sell mode, while the 20-day SMA ($127.67) could serve as resistance in the next few sessions.
The short-term trend is neutral. The last 3 weeks’ correction has formed a bullish flag which is more likely to be resolved to the upside. There is strong technical support @ $122, $119 and $115 in case of a continuation of the downmove.
Anyway, almost everything about Wednesday’s market will depend on Fed language and view on interest rates.
AAPL daily chart (3 months):
Chart courtesy of http://www.StockCharts.com
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