Technical: Price is at the end of accumulation zone breaking the support zone. On higher timeframes (weekly; monthly) charts we can see elliot`s 5th (7th)wave. time to correction legs.
Fundamental: Break out of the $169.00 price level was expected.
Breakout occured with the bad news coming about the Apple Inc. cut on its iPhone X production, ( production reduced for about 60%) on Wall Street Journal. Now, "IF" the breakout would not correct itself, we are expecting a decline for about 5 - 6 months. Targets:
1st target = $156.5 to $153.97
2nd target = $144.00
3rd target = $134.60
- Support (Team)
Fundamental: Break out of the $169.00 price level was expected.
Breakout occured with the bad news coming about the Apple Inc. cut on its iPhone X production, ( production reduced for about 60%) on Wall Street Journal. Now, "IF" the breakout would not correct itself, we are expecting a decline for about 5 - 6 months. Targets:
1st target = $156.5 to $153.97
2nd target = $144.00
3rd target = $134.60
- Support (Team)
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