AAPL Targets lower end of Rising trend channel
Updated
AAPl has trended in a broad uptrend for the last 3 years from $89 to $232. The lower end of this channel has proved a great area of support and I now see this being tested once again.
Its been a tough time for Tech of late and the shine has certainly come out of the FAANGs with many queswtioning if we are moving from a growth investing into a value investing environment. AAPL' soggy forward guidance and falling market share should persuade longs to lighten the load here and see how far this pullback brings us.
Technically speaking I think $182-185 area is the initial targett with a view to seeing how the market reacts at that long-term support level
Its been a tough time for Tech of late and the shine has certainly come out of the FAANGs with many queswtioning if we are moving from a growth investing into a value investing environment. AAPL' soggy forward guidance and falling market share should persuade longs to lighten the load here and see how far this pullback brings us.
Technically speaking I think $182-185 area is the initial targett with a view to seeing how the market reacts at that long-term support level
Trade closed: target reached
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