We have often written that Apple (AAPL) is one of the most closely watched companies and its shares are also intensely watched by fundamental and technical analysts. There isn't a data point or company announcement that isn't watched by a million eyes. Is there any room for a unique view point?
Let's check the charts.
In this daily bar chart of AAPL, below, we can see that prices are trying to stage a reversal pattern. AAPL made a low in the middle of June and a higher low in late June. Prices made a high in late June and a higher high in early July.
The daily On-Balance-Volume (OBV) line bottomed in May-June and has moved higher into July telling us that traders have shifted to be more aggressive buyers of AAPL shares.
The Moving Average Convergence Divergence (MACD) oscillator made a higher low in June when prices made a lower low - this is a bullish divergence and now the oscillator is close to crossing the zero line for an outright buy signal.
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