Apple price fall because of S&P 500 correction to 3900 range.

Trade at your own risk.

Apple since 2003 price at USD0.32 has breakout to USD197 at the recent peak. The stock is currently having a correction since S&P 500 is also having a correction from peak 4605 to around 3900 to 3850. 15% correction.

Apple current price USD166.89 will drop to the 4 hours support level at USD161.41. If there is a breakout, then the price will head to USD142.23 at 1 day support level. The price will not drop to USD112.77 the 1-week support level as we are near the November 2023 FOMC Feds meeting. Most likely there will be good news and an emergence of a strong tailwind for the market after the meeting.

Impossible for the share price to drop to USD 24.41 on the 1-month support level.

Recommend a buy at USD142.23 level on technical Analysis perspective.

USD166.89 will be this week or next week bottom price. Might or might not breakout depending on the outcome of the FOMC Feds meeting.

Comment:

Good news from Fed's FOMC go the price goes up. S&P 500 can go up without any resistance until 4619.03. So Apple price will also go up along with S&P 500. Need to re-evaluate the Apple price When S&P 500 reach 4619.03.

Apple could go up until next resistance at USD201.97.

Comment:

previous low forecast for Apple is 166.89 but close lowest for last week was 167.20. Hence my projection is 99.814% accurate.

Comment:

Apple reported the 3Q earning yesterday and beat on revenue and positive results. Hence, price from now until December 2023 Fed's FOMC will most likely not break below 167.20 the previous near term bottom.

Next resistance 201.97. The price will be uptrend till next FOMC and might reach 201.97 in 1 month time.

Comment:

Last Friday 1st December 2023 Apple price close at USD191.24 nearing the 1 day resistance at USD201.97 previously projected.

If good news for jobs report and CPI then 201.97 will be tested or near in 1 to 2 weeks' time.

Comment:

Trader should hold and not sell Apple currently until FOMC 13 December 2023 good news or bad news to be confirm.

Trade active:

Apple Inc price inch closer to the projected 1 day resistance level at USD201.97. Currently at USD195.71. Most likely will test USD201.97 next week if CPI and Fed's FOMC is good news.

Trade active:

I am not interested in buying into Apple currently since the revenue reported for four quarters misses estimates. The current price of Apple is at USD180.20 of from the high of USD 199.62 which I have a 98.8364% accurate projection of resistance level.

Unless Apple has new and innovative product launches that could cause the top line and bottom line beat estimate in a big way. This stock will not go up to USD4 trillion valuation.

Trade active:

buy at previous suggested price of support at USD142.23 but might be able to buy lower depending on S&P 500 condition as spell out in my other post of S&P 500.

If S&P 500 at 4100 level this Apple stock will go cheaper.