• AAPL offers a poor risk-reward at current level
• Possible downside risk toward 100
Apple’s stock price is currently trading below 200-day moving average which suggests sentiment is bearish. It shows a top pattern pointing to a possible downward trajectory. A resistance zone ranges from 138 and 153 while supports are seen around 125 and 107. At current level APPL’s stock offers a poor risk-reward. Given our base case scenario of 115 for Dec 2023, if price falls within a range between 93 and 107, it would make sense to take a long position.
• Possible downside risk toward 100
Apple’s stock price is currently trading below 200-day moving average which suggests sentiment is bearish. It shows a top pattern pointing to a possible downward trajectory. A resistance zone ranges from 138 and 153 while supports are seen around 125 and 107. At current level APPL’s stock offers a poor risk-reward. Given our base case scenario of 115 for Dec 2023, if price falls within a range between 93 and 107, it would make sense to take a long position.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.