Apple is about to hit tremendous $3 trillion ($3,000,000,000,000 just look at that number!!!) market cap.
The stocks are overbought on there's too much hype of Apple products, which are way too overvalued. The problem is not that it is overvalued by Apple company, it's ok, they define the price what they want. The problem is that it is overvalued by shareholders, the greed on Apple hits all time limits.
We can see on the monthly chart that Apple did more than 20% within last 40 days. Taking into account its market cap and amount of money involved to make these 20%, its ridiculous and fake.
On a monthly chart we're currently in greed/delusion stage of a bubble, where too much public keeps buying overvalued stocks.
I expect the price to keep growing a liitle more time and eventually bump into $190-$198 resistance and start collapsing.
There's a fibo on the chart with important support levels to drop to. I drew it on a 12M chart (1 candle = 1 year). Historically before Apple was respecting fibo correction and was always retracing down to 0.5 or 0.618 on a yearly chart.
This time I expect it to do the same.
And as usual - please DON'T LIKE and DON'T FOLLOW me if you don't like my idea :)
The stocks are overbought on there's too much hype of Apple products, which are way too overvalued. The problem is not that it is overvalued by Apple company, it's ok, they define the price what they want. The problem is that it is overvalued by shareholders, the greed on Apple hits all time limits.
We can see on the monthly chart that Apple did more than 20% within last 40 days. Taking into account its market cap and amount of money involved to make these 20%, its ridiculous and fake.
On a monthly chart we're currently in greed/delusion stage of a bubble, where too much public keeps buying overvalued stocks.
I expect the price to keep growing a liitle more time and eventually bump into $190-$198 resistance and start collapsing.
There's a fibo on the chart with important support levels to drop to. I drew it on a 12M chart (1 candle = 1 year). Historically before Apple was respecting fibo correction and was always retracing down to 0.5 or 0.618 on a yearly chart.
This time I expect it to do the same.
And as usual - please DON'T LIKE and DON'T FOLLOW me if you don't like my idea :)