Like many tech stocks,
AAPL
is flirting with the idea of breaking down. The stock hasn't made a move up in a while, although it traded above the 40EMA for a while compared to its peers like
AMZN
&
META
. Last Friday is closed at the 40EMA level, this is a key support level that must hold if the stock want to continue to be in an uptrend. The small consolidation, or better, distribution, above this level paints a grim picture.
Few of our long trades failed in the past few weeks, we chose to stay on the side until a clear direction is taken, for long position that would be a close above $183. Given tech weakness, and now Shenzhen challenges, we wouldn't be surprised if the 40EMA fails and the stock trade lower. That would be bad news for
NDQ
as
AAPL
,
MSFT
&
GOOG
were among the few tech stocks that still traded above the 40EMA level. Interesting week ahead, keeping an eye on these names.
AAPL
is flirting with the idea of breaking down. The stock hasn't made a move up in a while, although it traded above the 40EMA for a while compared to its peers like
AMZN
&
META
. Last Friday is closed at the 40EMA level, this is a key support level that must hold if the stock want to continue to be in an uptrend. The small consolidation, or better, distribution, above this level paints a grim picture. Few of our long trades failed in the past few weeks, we chose to stay on the side until a clear direction is taken, for long position that would be a close above $183. Given tech weakness, and now Shenzhen challenges, we wouldn't be surprised if the 40EMA fails and the stock trade lower. That would be bad news for
NDQ
as
AAPL
,
MSFT
&
GOOG
were among the few tech stocks that still traded above the 40EMA level. Interesting week ahead, keeping an eye on these names.