The AAPL stock has been moving up really nicely from 125 since the beginning of this year. Unfortunately it has come to a point where the market is telling us it has no energy to move up further.
Here is why the stock is set to go down.
1) There is strong resistance at 155.10 to 157.80
2) There is a triple top in H4 with divergence
3) RSI is overbought on H4 and D1.
The reality of another round of rate hikes in March (Perhaps another 0.5%) has also spooked the market. Inflation isn't abating with the last one being at 6.4% which was higher than the Fed and market expected so don't be surprised if we see a few weeks of weak stock market movements.
As for me, I will go short on the stock with stop losses above 165 and aim for the 125 price range.
Here is why the stock is set to go down.
1) There is strong resistance at 155.10 to 157.80
2) There is a triple top in H4 with divergence
3) RSI is overbought on H4 and D1.
The reality of another round of rate hikes in March (Perhaps another 0.5%) has also spooked the market. Inflation isn't abating with the last one being at 6.4% which was higher than the Fed and market expected so don't be surprised if we see a few weeks of weak stock market movements.
As for me, I will go short on the stock with stop losses above 165 and aim for the 125 price range.