supratimbarman

AAPL may be correcting to about 243/236

Short
NASDAQ:AAPL   Apple Inc
this is the weekly aapl chart.

this is the 2nd time since feb2005 that the weekly RSI was been above 90.

in feb2005, aapl fell over 25%.

you will notice the rapid decline in aapl recently.

i have also included the regression channel and based on this observation, i feel that aapl will reach the top of the channel to about 243/236 perhaps.

i have also marked the steep decline in the RSI since the 90s of feb2005 and the current steep decline since the recent high 90s.

the dow will remain constrained as aapl corrects, in my opinion.

in feb2005, aapl was at 5usd and fell to about 3.50usd over the next 5 weeks.

Comments

I'd like to see what happens regarding the virus first. A lot of the recent movement of stocks has been due to the virus so I'm sitting on my hands for now. Interesting analysis, by the way.
+1 Reply
@Tricuspid, Thank you very much for your support. This "possible" move in the stock could predict a short-term Dow forecast.
+1 Reply
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