APPLE INC. (AAPL) continues looking bad and the charts are getting worse.
Let's take a look at some of the signals:
We are now below EMA10 (green line), this is normally a strong support. When the weekly candle closes below it, normally it quickly bounces up. But now we have the divergence and also a top, plus the last weekly candle is really strong. Weekly candle closes tomorrow, it is going to get pretty ugly regardless of how it closes, unless it goes back up strong which basically seems impossible.
We are going to test EMA50 (magenta line) next.
Strong MACD bearish crossover.
RSI trending down strong. It is at its lowest since April and it will down more.
Bear volume is at its highest since February, the bears are in full control. If you are an Apple bull, sell everything before you go broke.
This is it for my Apple analysis. I really hope that you enjoyed.