Shares of AAPL are trouble, so long as this zone of support between $144.79-150.24. If not, a possible relief rally may come in to play because it's getting oversold on a weekly basis (RSI <30). Even so, any strength should be sold in to, as I see this thing falling hard. Minor breakout resistance (dotted white line), but the extensions from the major move has downside targets at 127.2% and 161.8%, $127.60 and $98.80, respectively. Finally, $89.78 is the line in the sand... if we get there, you'll get a chart from me far in advance.
It may be worth stepping in to a small position, but go easy because you're betting this the bottom. Have an exit strategy, and if possible, play via options to define risk. I'm buying some near dated called expecting a bounce to $178.78, give or take. From there, I'll be looking to go short on a longer-term.
Happy Trading!
It may be worth stepping in to a small position, but go easy because you're betting this the bottom. Have an exit strategy, and if possible, play via options to define risk. I'm buying some near dated called expecting a bounce to $178.78, give or take. From there, I'll be looking to go short on a longer-term.
Happy Trading!