$AAPL TOP 20
Added 2023-05-01 03:45:49 +0000 UTCThis will be the big earnings report this week and for all of the earnings season, it carries the most weight in the S&P 500 and can influence the market. Earnings report is due on Thursday after the market closes.
On Friday, we saw the price action breaking above the yellow trend lines for the first time, which was a win for the Bulls for now at least, next big test will be the test of the wedge trendline, which conveniently leads up to the earnings date.
So What Now?
Very clear here, a break above the wedge from a positive earnings beat and this is comfortably in the bull case and targets above as shown. The RSI is not offering much insight as it has been sideways moving for a number of weeks, the MACD is leaning towards a bearish trend, which would make sense as this has climbed very well without any significant pull backs, so the momentum may be changing....a positive earnings will bring a rush of buyers here however.
