Apple is seem to be heading back home to under 100.
The lowering volume , H&S pattern, and 3 black crows are all pointing to a bearish trend .
The 200 MA is also being tested for the third time. And 200 MA doesn't like to be tested too many times! so if it breaks down, our first target is guaranteed.
But there is a slight chance of reversal at this price point and that's if we see 125-126 in the next few days. Otherwise, it should go down under 200 MA and hit around 122 and that's when the real bearish trend begins. In that case, the second target is where the gap formed on July 31st 2020 should be filled. So let's watch this closely and see where it lands in the upcoming days.
The lowering volume , H&S pattern, and 3 black crows are all pointing to a bearish trend .
The 200 MA is also being tested for the third time. And 200 MA doesn't like to be tested too many times! so if it breaks down, our first target is guaranteed.
But there is a slight chance of reversal at this price point and that's if we see 125-126 in the next few days. Otherwise, it should go down under 200 MA and hit around 122 and that's when the real bearish trend begins. In that case, the second target is where the gap formed on July 31st 2020 should be filled. So let's watch this closely and see where it lands in the upcoming days.
Trade closed: stop reached:
Trade was closed at 126.
