Apple, Inc (NASDAQ: AAPL) was rising about 1.6% on Friday, continuing to trek mostly north within a rising channel pattern, which Benzinga called out on July 19.
The Cupertino, California-based company’s pattern is bullish, at least for the short-term.
Apple is also trading in an inside bar pattern, indicating a period of consolidation, which is usually followed by a continuation move in the direction of the current trend.
An inside bar pattern has more validity on larger time frames (four-hour chart or larger). The pattern has a minimum of two candlesticks and consists of a mother bar (the first candlestick in the pattern) followed by one or more subsequent candles. The subsequent candle(s) must be completely inside the range of the mother bar and each is called an “inside bar.”
A double, or triple inside bar can be more powerful than a single inside bar. After the break of an inside bar pattern, traders want to watch for high volume for confirmation the pattern was…
2023-07-28 15:15:25
Link from finance.yahoo.com