Watching $AAPL at 297.19. It seems to be having trouble staying above the 300 mark. If it closes below 297 on the daily, I might consider that a short-term bearish signal, potentially targeting 290. Thoughts?
Disagree. I think this is just profit-taking after a decent run. Don't see a breakdown coming yet, could consolidate around 295-300 before moving higher.
My read is that institutional buying is still strong on dips. A brief dip below 297 might just be a good entry point for many.
What's your time horizon for this 'short-term bearish signal'? Daily close can be tricky, especially with end-of-day volatility.
297 looks like a logical support level from the previous swing high. A close below that would definitely concern me.
Are you looking at volume alongside price action? Low volume on a dip might suggest less conviction for a true breakdown.