A lot of assets are falling across the board!
Let’s take a look at potential support zones for AAPL, ADA/USD, and EUR/GBP to see if we can buy at cheaper prices.
What do you think of these levels?
Apple Inc (AAPL): Daily
After finding resistance at $183.00 in late 2021, AAPL has formed a Double Top-like pattern and has since gone down to the $162.00 levels.
$160.00 is a potential inflection point as it’s near the 61.8% Fibonacci retracement of the last major upswing as well as the 100 SMA on the daily time frame.
Look out for green candlesticks around the current levels because Stochastic hitting the oversold levels can inspire bulls to start building positions for a trend continuation.
Meanwhile, the bears can take advantage of the red candlesticks. Traders can short at current prices and then take profits at the first signs that AAPL is losing its bearish momentum.
ADA/USD: Daily
If you bought ADA/USD when it peaked in September 2021, then you’re definitely in the “We don’t talk about Cardano-no-no-no” camp. The pair is now half what it’s worth then!
ADA/USD is now consolidating at the 1.0600 – 1.0700 area that has supported the pair at least twice in the second half of 2021. What’s more, ADA/USD is sporting a bullish divergence on the daily time frame.
Bulls can buy at the first green candlesticks and aim for previous areas of interest like 1.6000 near the 100 SMA.
Just because prices are low doesn’t mean that they can’t go lower, however. If ADA/USD makes new 2022 lows, then you need to prepare for the possibility that ADA/USD may break even 2021’s lows.
EUR/GBP: Daily
No, you’re not seeing double! EUR/GBP is also hanging out near a level that has supported the pair at least twice in the last year or so.
This time, a bullish divergence has popped up with Stochastic signaling its rise from the oversold territory.
Feel like making countertrend trades? Euro bulls can buy at current levels and target the .8450 inflection point or the 100 SMA.
If you’re confident that EUR/GBP will make new 2022 lows, though, then you can place sell stop orders below .8300 and take profits when the euro sees sustained buying pressure.
