As you can see in the graph above Apple's share fell nearly 40 percent from its peak And stopped right on Moving Average 200 And since then the price has been rebounding And completed a weekly rise, we add the Fibonacci indicator to give us Take Profit prices
Our Signal: Buy AAPL
Entry Price: 156.5
Take Profit: 166
Apple to short, TP 115,93 - arround 115 SL 165 up, above 1hr chart, sma 200. Indexes and Dow Jones Industrial Average to start falling making a good profit on shorting some equities.
Apple has made a sharp drop (about 40% in 90 days).
It has bounced on the MA 200 (weekly), a very important support.
Now the bounce seems to be in progress.
The 160 dollar could be broken and if this happens the continuation to 175 is very likely.
We could see the 78.6% as a bullish as a bullish confirmation.
AAPL
I normally do not do stock TA but will from request.
I believe we will see $93-$100 AAPL. All of the green lines are the support lines. You can trade these accordingly. I will be coming back to this in the future.
With earnings season kicking off this week you should be watching to see how the market reacts to the reports.
The S&P 500 has been trading range-bound for the last couple days as it continues to retest the 2600 resistance.
I expect that 2600 will continue to hold lots of sellers and a breakout is less likely than a breakdown.
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