$AAPL Top Signal, $TSM Shooting Star, $NDX Overbought: What's Next?

SmartReversals
06-08 10:18

The market remains near record highs, but bearish price action and overbought conditions are starting to flash caution signals.

Key levels in $NDX, $AAPL, and $TSM could determine the next move.

1. $NASDAQ 100(NDX)$

Such bearish price action at all-time highs suggests continuation. When those bearish candles are validated by an overbought RSI, the bearish likelihood increases.

Can the market open green tomorrow? Yes, but it must prove any bounce by recovering key weekly levels.

2. $Apple(AAPL)$

TOP SIGNAL

$AAPL is constantly analyzed in my Trading Compas (daily and weekly). We have navigated bounces and tops successfully by combining technicals and S/R levels.

Link in bio for the full analysis and levels for the $S&P 500(.SPX)$ , all the mag 7 and other megacaps for next week.

3. $Taiwan Semiconductor Manufacturing(TSM)$

$TSM, the second largest semiconductor company in the world by market cap, has printed a weekly shooting star. Previous occurrences have sent the price to the 20 MA (currently 369 and rising).

Monthly, weekly, and daily levels are constantly updated for founding members.

$VanEck Semiconductor ETF(SMH)$


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Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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