AAPL is the last big tech to break, pulling down QQQ & SPY with it.
In this weekly chart, it just broke the green WMA50 line & also the upchannel. It seems to be making a M-pattern already with a lower high & a lower low thus confirming the downtrend. Despite a big relief rally bouncing from 140 zone last Friday, I think AAPL may still go down to my green 138-135 support zone. Any big relief rally will still be rejected by my yellow 155 Alert zone.
In the next few weeks, AAPL may want to retest the violet TL since 2017. Reaching either 135 or 120 will end the ABC correction & start a true rally.
AAPL at the 140 to 120 zone is already an attractive place to accumulate.
Pls note that 135 is a 0.618 retracement & 120 is a 0.786 Fib.
Not trading advice
In this weekly chart, it just broke the green WMA50 line & also the upchannel. It seems to be making a M-pattern already with a lower high & a lower low thus confirming the downtrend. Despite a big relief rally bouncing from 140 zone last Friday, I think AAPL may still go down to my green 138-135 support zone. Any big relief rally will still be rejected by my yellow 155 Alert zone.
In the next few weeks, AAPL may want to retest the violet TL since 2017. Reaching either 135 or 120 will end the ABC correction & start a true rally.
AAPL at the 140 to 120 zone is already an attractive place to accumulate.
Pls note that 135 is a 0.618 retracement & 120 is a 0.786 Fib.
Not trading advice