Apple Inc (AAPL) the biggest read candlestick in a while to break below EMA10. Multiple signals are telling that this isn't the end... AAPL can go lower, let's take a look.
We have increasing red volume.
We are looking at a MACD that is trending lower.
The RSI moved below 50 (at 47.19 right now) and is clearly looking down.
EMA50 (202.60) worked as support and held Apple's drop... Normally we see a bounce here before additional bearish action. I am getting the feeling that there won't be any bounce, it will be pure blood on Monday... But this is just a guess.
If EMA50 can't hold (breaks), then expect for AAPL to move even lower and test 198.01 or EMA100.
How far low can it go? For starter, I believe it can easily test EMA300 at 189.40. Depending on how things develop, a bounce can happen here or it can continue going lower.
My guess, you ask? Apple Inc. will have a really hard time and can continue much lower. It might test the last low (blue dashed line).
Chart
Magenta lines = resistance.
Blue lines = support.
Thanks a lot for reading.
Share your thoughts in the comments section below.
With trade escalation Tech will likely be decimated more than the SP and Dow even though all three are somewhat interconnected. Most tech stocks will easily shed 50% of their numerical value over the next 12 months.
With trade escalation Tech will likely be decimated more than the SP and Dow even though all three are somewhat interconnected. Most tech stocks will easily shed 50% of their numerical value over the next 12 months.
Short FAANG, thats for sure.
- zSplit