AAPL Weekly Perspective
I'm bearish long-term, but wouldn't be surprised if this sell-off from the past SEVEN weeks bounces temporarily from the support zone at ~$138-$140. The 100 MA has held up nicely as support in the past, and if this zone does remain a solid support, I could see AAPL trying to push back to the top of the descending channel ~$155.
If the $138 support zone can't hold, the most likely support underneath is ~$120 - which also aligns with a .50 fib retracement (backdated to March 23,2020)
I'm exercising caution shorting this at this current price level, because that $140 zone seems like a really strong area for AAPL to bounce from.
If the $138 support zone can't hold, the most likely support underneath is ~$120 - which also aligns with a .50 fib retracement (backdated to March 23,2020)
I'm exercising caution shorting this at this current price level, because that $140 zone seems like a really strong area for AAPL to bounce from.
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