I don't often look at stocks, but last week I saw the news that Apple had missed sales targets for its smartphone and delivered disappointing revenue projections.
So I checked the chart, and it doesn't look good for the next year if you are long APPL.
Here's the chart I quickly drew up last week:
Once we break the daily 200MA, I believe it will drop very quickly to around $150USD.
The larger short target is the weekly 200MA, at around $138USD, which has proved to be strong support for the past several corrections.
So I checked the chart, and it doesn't look good for the next year if you are long APPL.
Here's the chart I quickly drew up last week:
Once we break the daily 200MA, I believe it will drop very quickly to around $150USD.
The larger short target is the weekly 200MA, at around $138USD, which has proved to be strong support for the past several corrections.
Kommentar:
For a time, our trade was going 100% according to plan, however over the past week APPL has had a good recovery; it bounced off the 200MA and went back to the ATH.
With that said, it seems to have stalled today, and there is a potential for a double top now:
I wouldn't consider this idea invalidated until we have cleared the $180 resistance and retested it for support. But I will be keeping a close eye on it now.
With that said, it seems to have stalled today, and there is a potential for a double top now:
I wouldn't consider this idea invalidated until we have cleared the $180 resistance and retested it for support. But I will be keeping a close eye on it now.
I expect momentum to build once we close below the weekly 50MA, which should happen by the end of this week: