APP: price in the important macro-ristance True market leader of past and this year, both fundamentally and technically, is approaching an important mid-term resistance zone of the uptrend from 2022 lows: 322-370-470.
Although the uptrend on the date of writing is very intact and looks strong (since august lows price respects 8/21 ema), these resistance area might provide profit taking or position hedging opportunities for both swing/position traders and investors. These might become especially important when/if price starts trading bellow 8/21 with ema reversing their slope to the down-sideß.
Until price is bellow 470, next important, mid-term support zone 255-175. While price is above 175 resistance level, suggested macro up-trend structure is valid with higher potential price levels in years to come.
Thank you for your attention!
P.S. This is my biggest mistake and investing regret from last and this year. Had a perfect entry on 10th of July with 26.68 cost level and long-term hold-intentions but ended treating it as a short term swing position loosing big picture view, selling everything on 14th of July and moving it out from my focus list.
Good to observe and reflect from this experience of mine and move on being inspired by life-changing potential of TML's like NASDAQ:APP : )
