Four major stocks are showing very different technical setups. Some are flashing bearish signals, while others may be approaching a relief bounce.
🔴 $Apple(AAPL)$ — Watch the 20DMA at 341
• A second shooting star has appeared near the upper Bollinger Band within just five trading sessions.
• A pullback toward the 20-day moving average, currently around 341, looks increasingly likely.
• The unfilled gap at 347 could act as near-term resistance.
⚠️ Be careful chasing the extended-hours rally. The daily chart is showing signs of exhaustion.
🔻 $Micron Technology(MU)$ — Bearish Rejection at the 20DMA
• Price was rejected at the 20-day moving average.
• A move toward the lower Bollinger Band, currently around 814, is a potential next step.
• The after-hours selloff adds further weight to the bearish setup.
🟡 $Meta Platforms, Inc.(META)$ — Relief Bounce Needs Confirmation
• Price managed an initial relief bounce, moving back inside the Bollinger Bands.
• Selling pressure appears to be losing momentum.
• However, the indecisive daily candle is not enough to confirm a bottom.
Holding 625 tomorrow would provide an initial signal that consolidation may be developing.
🟢 $Alphabet(GOOG)$ — Oversold Conditions Raise Bounce Potential
• Price has broken decisively below the lower Bollinger Band.
• Chasing the move with fresh short positions carries increased risk.
• Today's indecisive candle, accompanied by unusually high volume, points to the possibility of a relief bounce.
A short-term rebound could emerge sooner rather than later, although confirmation is still needed.
Comments
Support price also?