AAPL - Weekly View - Bearish Continuation - Don't Be Fooled
Weekly view of AAPL confirms downtrend is just beginning.
RSI trend is about to be broken. Weekly RSI is overbought at 76+.
Bullish trend is overextended. Weekly Bullish trend has been going since Sept.2nd week.
16 weeks bullish trend was longest recently (after December 2018 selloff). 12 Weeks is overextended.
AAPL is hitting blue resistance line which has multiple contact points back to 1999. See AAPL Outter Space chart below.
Hash Ribbons show that capitulation has started.
Based on this I have increased my Puts into January. Jan 17 2020 Puts $255 Strike.
I see AAPL going down for several weeks based on the info above and previous trends.
This also confirms for me that SPY should continue down as AAPL is a major SPY component.
If you compare AAPL and SPY (SPX) they are identical in both price action and indicators. One fall-both fall.
AAPL Outter Space Chart
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, and VIXY.
Short SPY, AAPL, ROKU.
RSI trend is about to be broken. Weekly RSI is overbought at 76+.
Bullish trend is overextended. Weekly Bullish trend has been going since Sept.2nd week.
16 weeks bullish trend was longest recently (after December 2018 selloff). 12 Weeks is overextended.
AAPL is hitting blue resistance line which has multiple contact points back to 1999. See AAPL Outter Space chart below.
Hash Ribbons show that capitulation has started.
Based on this I have increased my Puts into January. Jan 17 2020 Puts $255 Strike.
I see AAPL going down for several weeks based on the info above and previous trends.
This also confirms for me that SPY should continue down as AAPL is a major SPY component.
If you compare AAPL and SPY (SPX) they are identical in both price action and indicators. One fall-both fall.
AAPL Outter Space Chart
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, and VIXY.
Short SPY, AAPL, ROKU.
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