Apple, prices are taking support near $91-92 and recovering since last year. prices have formed Descending triangle and is expected to give breakout any time soon. prices have already made low trice and touched the lower band while prices on upper band has been touch twice.
As per my study, prices are expected to touch higher and likely to give a positive breakout above $102. However, a global slow down can extent the fall further.
Traders are advised to short below $90 with SL of higher band $102 or traders can buy the stock above $102 with stop of $90 and target of 130 for next half year.
@snoopy11223 I am just using common sense with technical charts, my sense says that Apples sales wont be down by Brexit yes there might be some additional cost they have to bear on separation as free trade policy in Europe will not exist. I am sharing some negative and positive events that took place recently and positive is far much better then negative of Brexit
Negative -- Brexit can add expenses as free trade policy wont be there and the impact of this is temporary
positive -- Sales wont come down on Brexit with addition to that India has approved single brand retail FDI and it is expected that Apple to get a big blow in coming year from it.
snoopy11223
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With Brexit I would favor a short at $92.- reading your chart. As they say don't try to catch a falling knife. Make a fast in and out profit, with a long put. The extra time will just be sold back to the market that you don't use.
Negative -- Brexit can add expenses as free trade policy wont be there and the impact of this is temporary
positive -- Sales wont come down on Brexit with addition to that India has approved single brand retail FDI and it is expected that Apple to get a big blow in coming year from it.