AAPL is rising, while RSI and MACD are dropping, forming strong and powerful bearish divergences that will sooner or later trigger a significant downward move in the price of AAPL. On both RSI and MACD, we have a lower high, while the price made a higher high, signaling a lack of strength in this move and suggesting that big players are selling while inexperienced investors are entering at all-time highs.
Furthermore, AAPL is forming a huge and powerful bearish pattern, a rising wedge. It is almost certain that the price will break below the trend line of this pattern, triggering bearish momentum. The only question is when it will happen. I anticipate that the price will experience a bounce on this weekly chart at the trend line, but it could be just a dead cat bounce. After that, a break is likely, and the price will probably drop to the significant support level, specifically the BigRed aka 200-week MA, at prices between 140-150.
From a macro perspective, it is highly likely that AAPL will undergo a strong correction and trend downward for months. The downgrade coincides with negative growth for the company, lower sales, and weaker demand.
Furthermore, AAPL is forming a huge and powerful bearish pattern, a rising wedge. It is almost certain that the price will break below the trend line of this pattern, triggering bearish momentum. The only question is when it will happen. I anticipate that the price will experience a bounce on this weekly chart at the trend line, but it could be just a dead cat bounce. After that, a break is likely, and the price will probably drop to the significant support level, specifically the BigRed aka 200-week MA, at prices between 140-150.
From a macro perspective, it is highly likely that AAPL will undergo a strong correction and trend downward for months. The downgrade coincides with negative growth for the company, lower sales, and weaker demand.
Comment:
AAPL nice move according to TA, very easy to trade it and earn here. Major major support at 200 weeks MA or around 140 and we will see a major bounce, but just a major bounce, not a new bull market!
AAPL nice move according to TA, very easy to trade it and earn here. Major major support at 200 weeks MA or around 140 and we will see a major bounce, but just a major bounce, not a new bull market!
Comment:
Seems AAPL on weekly is forming low base formation. Would like to see a week or two more in this area and than a break!
Comment:
On a daily, it looks like a perfect bear pullback. This huge volume indicates more drop is in front of us and indicates this drop from bear pullback just started!
On a daily, it looks like a perfect bear pullback. This huge volume indicates more drop is in front of us and indicates this drop from bear pullback just started!
Consistency is the key of success....
Week is not over yet, but its almost impossible for APPL to be saved. Game over. Bull is over. 2022 low is first target for first huge and major bounce.