I've been watching AAPL for quite some time and there was a nice wedge that has played out so far. What I can say is that from the high in Januaru 2022 to the low in June 2022 and the retrace up into August 2022 has created a bottom at 124.33 as seen on the chart. Notice that we bounced from there almost exactly (within like $1).
Also, the initial decline & bounce from Jan > Early Mar > Late Mar also created a bottom between 127 and 130. We found that June bottom there and it will continue to provide algo support (demand) down here as well.
IF WE BREAK 124 - or honestly, if we even revisit it, we'll likely head to 114 as the next level. The wedge breakdown target is at 114.38 and mix that with the larger 123.6 (from the pivots pointed out in the first paragraph) at 114.50.
In an extreme bearish move, the final targets would be between $95 and $100 - I know, that seems hard to believe, that's why I said extreme.
Watch this pullback for clues on where the market will go. MAJOR resistance is going to be at $132
Also, the initial decline & bounce from Jan > Early Mar > Late Mar also created a bottom between 127 and 130. We found that June bottom there and it will continue to provide algo support (demand) down here as well.
IF WE BREAK 124 - or honestly, if we even revisit it, we'll likely head to 114 as the next level. The wedge breakdown target is at 114.38 and mix that with the larger 123.6 (from the pivots pointed out in the first paragraph) at 114.50.
In an extreme bearish move, the final targets would be between $95 and $100 - I know, that seems hard to believe, that's why I said extreme.
Watch this pullback for clues on where the market will go. MAJOR resistance is going to be at $132