$AAPL : Bearish cross. Watch for kumo support

AAPL has a weak Bearish cross on its Daily Ichimoku Chart.

While the cross took place above the kumo; signifying that it is not a strong bearish cross at the moment, there is a need to watch out for the support below.

The overall market counter bear rally has been weak. And even for AAPL, it has yet to break through its previous support-turn-resistance level at around $385.

We can see from the chart that the kumo support below is very thin. And for AAPL to continue its bullish move, it need to stay above the kumo over the next 2 weeks (till Sept).

The thick leading kumo from September suggest that AAPL needs to stay above $357.

Below that, AAPL will enter the bear territory and likely most other companies and the indices will be too.

By iam802

Trend trading with Ichimoku