AAPL needs to follow through on attempts to set new high

11

February 2021

By

Alex Cole

There has been a lot of discussion around whether the big tech stocks, including APPL,  can follow through on their attempts to set new highs.  Until, they are able to do do that, there is some concern over whether they long term trend will continue.

This is an Apple weekly GoNoGo Chart, and we can see that 3 and 4 weekly bars ago, price briefly managed to inch higher than the high of the end of August. 

Since the high of August, during this period of consolidation, the GoNoGo Oscillator has paled in color, indicating that volume is weak.  

If the GoNoGo Oscillator falls to zero again, we would need to see it find support there.  If the oscillator can rebound strongly into positive territory, it would show some conviction if volume increased, turning the GoNoGo Oscillator dark blue.