AAPL – 20th December 2019
5M/1M EMAs remain about the same at approx 279.96 until around 7:30. A spike in price starts to accelerate the upwards trend of the 1M EMA. A bigger divergence occurs around 9:15 AM when a sharp spike in price further increases the distance between 1M and 5M 200 EMAs. However the momentum did not continue. The first bar on the 1M chart was red – almost a DOJI signifying confusion not confidence.
Price then found support at 1M EMA line bouncing a couple of times and then eventually heading lower.
Momentum from premarket’s last big move at 9:15 AM did not continue