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Where is the first support level? for NASDAQ:AAPL by Moshkelgosha

The support zone will be at 124-118, however, in the midterm, it could go lower!
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Hourly Chart: Lower border of Megaphone, should be supported around 130. (Neutral)

Daily Chart: Lowest close since April 12, close below daily open in the last 5 trading sessions, and increased volume above monthly average while the price fails to close above daily open is in favor of bearish case! ( Bearish )

Weekly Chart: Bearish engulfing after 2 Doji candles. ( Bearish )

Monthly Chart: Failure to close above 132.49 in the last 4 months, which means Apple’s return in 2021 is slightly negative so far! (Neutral)

Change in Average Dollar Value of Trades: -18% in the first 4 months of 2021 in comparison to the last 4 months of 2020. ( Bearish )

Conclusion: Neutral-Bearish in May is the most probable scenario.

Educational Article:

1- Megaphone or Broadening Pattern:
https://www.investopedia.com/terms/b/bro…

2-Bearish Engulfing:
https://www.investopedia.com/terms/b/bea…

3-Resistance:
https://www.investopedia.com/terms/r/res…

4- Multi-timeframe Analysis:
https://www.investopedia.com/articles/tr…

5-Dollar volume:
https://www.investopedia.com/terms/d/dol…

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