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Apple, more down side ahead

It is no secret that we are bearish on Apple.

Recent demand for iPhones has gone down rapidly. Revenue and income show sign of the company going ex-growth.

Price is now below the earning "rally".
The gap at 149-145 which should act as strong support is now broken.

We should be seeing more downside toward the 136 level.

On a longer time frame, we expect Apple to retest the low.

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