Apple IncShort
AAPL - Market Structure Shift a Bearish Case
Apple has broken daily market structure at ~167$ and has been drifting lower since the start of the year. From a technical perspective, the asset appears to be heavy which is sweeping recent lows one by one.
Downside targets I am looking at are:
Target 1: $146.5
Target 2: $138.2
I am looking for a quick move lower to sweep these two lows. If Target 2 is swept then that opens up Targets 3-6.
Over the longer term I am thinking the price will continue lower with the listed lows as targets. I am thinking the second half of the move lower is likely not going to be a straight shot down. Expect chop as the price continues to decline which will likely tempt buyers into the market as short term retraces higher occur.
Target 3: $122.2
Target 4: $116.2
Target 5: $107.3
Target 6: $103.1
Downside targets I am looking at are:
Target 1: $146.5
Target 2: $138.2
I am looking for a quick move lower to sweep these two lows. If Target 2 is swept then that opens up Targets 3-6.
Over the longer term I am thinking the price will continue lower with the listed lows as targets. I am thinking the second half of the move lower is likely not going to be a straight shot down. Expect chop as the price continues to decline which will likely tempt buyers into the market as short term retraces higher occur.
Target 3: $122.2
Target 4: $116.2
Target 5: $107.3
Target 6: $103.1
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.