Apple SHORT - Elliott's waves and MA Death Cross
Apple followed the 1-5 Elliott's wave pattern reaching the top ~230$ in October. The correction started sharply and the price can reach the FIBO level 0.382 at 145$ where also the MA50 (in the 1M chart) or the MA200 (in the 1W chart) can work as support (like in the past).
In the 1D chart, the MA50 can cross the MA200 in few candles and will draw a death cross that will make the price keep falling to reach the above mentioned level as mentioned.
Also the fundamentals related to the low expectations in iPhone sales for this quarter, can contribute to strengthen the bear sentiment for the stock.
In the 1D chart, the MA50 can cross the MA200 in few candles and will draw a death cross that will make the price keep falling to reach the above mentioned level as mentioned.
Also the fundamentals related to the low expectations in iPhone sales for this quarter, can contribute to strengthen the bear sentiment for the stock.
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