AAPL & QQQ at Key Junctures

SmartReversals
04-19

1. $Apple(AAPL)$ moves from the lower Bollinger band to the higher one and vice-versa. However, the 20 daily average can interrupt the sequence as it is happening since March (3 times already and highlighed).

Since the fast oscillator is overbought, and the lower band is widening, managing risk for longs is vital. This daily timeframe suggests further downside.

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2. $Invesco QQQ(QQQ)$ - The volume profile has provided clues of rejection zones, as on April 2nd, 9th, and 11th. Last Wednesday and Thursday, the price found support in the lower volume shelf highlighted.

However, the Stochastic suggests a decline is coming. Given the mixed signals the use of support and resistance levels is key: bearish if price continues below $449, and bullish consideration only if that level is recovered.

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