Apple Trades Sideways but Outlook Remains Bullish
FenzoFx—Apple Inc. dipped from $250.0 and tested the ascending trendline at $233.0 as support. The Stochastic Oscillator was in oversold territory then. Hence, the price bounced from $233.0, but the bullish momentum eased in the middle band of the Bollinger indicator.
Please note that the trend outlook remains bullish as long as the Stock trades above the ascending trend line or the $233.0 support. That said, the market will likely resume its sideways momentum in the current trading session, between the $244.0 resistance and the $233.0 support.