Apple Stock Weekly Analysis | Symmetrical Triangle in Play

 

Apple Stock Weekly Analysis

Hello traders and investors! Today, we’re analyzing Apple Inc. (AAPL) on the weekly time frame. As shown in the chart below, Apple stock has been rejected from a key order block and support level, and is now forming a symmetrical triangle pattern.

Key Scenarios to Watch 

Apple's current price action suggests a critical breakout is approaching, and traders should closely monitor the direction of the breakout:

• Bearish Scenario:

• If the triangle breaks downward, the price may move toward the double bottom level. In that case, we'll look for buying opportunities at the double bottom, depending on confirmation.

• Bullish Scenario: 

• If the triangle breaks upward, we will wait for a retest of the breakout level before entering a buy position. This could present a high-probability setup.

Additional Confirmation

For more precise entries, consider analyzing the H4 (4-hour) or Daily time frames. These lower time frames can help confirm the breakout direction and provide better timing for your trades.