DevilTrader168

Apple (NASDAQ: AAPL) Daily and Weekly Trend Analysis

Short
NASDAQ:AAPL   Apple Inc
Apple (NASDAQ: AAPL) was very conservative in its projection for the holiday quarter, so it is likely to make the guidance and has the possibility of exceeding quarterly guidance of higher-end models has partially offset the lower volume. This performance should lead to a recovery in the depressed stock price. Can the trend reverse in 2019 and bounce back to $185 level to fill the gap left behind on Nov. 2018? Well, I guess it really depends on the trade war and the demand for the new iPhones from mainland China after the Huawei incident. Lack of innovation and the slow down in new iPhone sales are the key drivers of the recent selloff. The weekly trend has turned quite ugly after breaking most of the crucial supports and the short-selling momentum was quite strong when price broke $210 level. Last year, Apple's price had dropped 37% from its all-time high and hopefully, the release of the 4th quarter earning result would have some reliefs to its share price due to short covering of the hedge fund managers. Let's see...


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