Apple ($AAPL) Price Forecasts for Upcoming FOMC Meeting
Updated
Downward pressure, combined with increased volatility should push 
AAPL down from it's current levels to at least the bottom of it's current channel over the course of the countdown to a concrete tapering schedule. Many believe the FOMC meeting on Sept. 22nd could be the formal announcement, as it would give the market enough time to adjust accordingly, however, as far as we know, the Fed has still not reached a consensus.
As with most market news, whether the tapering announcement happens or not, volatility will increase over the next week and a half, so it's important to keep an eye on both general market sentiment and price action and position yourself accordingly. This is a great week to play the edges as we are almost guaranteed to have hard swings. Historically, the market has dropped 3-5% every time JPOW has spoken in in the past year.
Besides a highly-likely bounce going into Monday (strictly due to the "rubber-band-effect" of being oversold locally from a haste sell off),AAPL should continue to dip until the market knows the verdict from JPOW and the Fed.
An assumption at this point in time for all forecasts is that the upcoming Apple event has already been priced in, not only due to "buying the rumor" but also FAANG-M's massive "safe-haven" run-up over the past few months. The highest projected price has been labeled in the rare case Apple knocks it out of the park with their event or institutions want to induce FOMO in an unforgiving market. Overall market sentiment will most likely see through Apple's attempt to minimize the chip shortage and unless the future outlook can justify a sustained support channel, any pump should be short lived.
For logic and reasoning behind the forecasts trajectories, I have labeled each with assumed situations that could cause them, which includes pivot points, TA, fundamentals, historical price action, etc.
NOTE: This is NOT Financial Advice. Strictly for information purposes only. I know nothing and am nobody. I just draw pretty graphs and read an 8-ball.
AAPL down from it's current levels to at least the bottom of it's current channel over the course of the countdown to a concrete tapering schedule. Many believe the FOMC meeting on Sept. 22nd could be the formal announcement, as it would give the market enough time to adjust accordingly, however, as far as we know, the Fed has still not reached a consensus. As with most market news, whether the tapering announcement happens or not, volatility will increase over the next week and a half, so it's important to keep an eye on both general market sentiment and price action and position yourself accordingly. This is a great week to play the edges as we are almost guaranteed to have hard swings. Historically, the market has dropped 3-5% every time JPOW has spoken in in the past year.
Besides a highly-likely bounce going into Monday (strictly due to the "rubber-band-effect" of being oversold locally from a haste sell off),
AAPL should continue to dip until the market knows the verdict from JPOW and the Fed.An assumption at this point in time for all forecasts is that the upcoming Apple event has already been priced in, not only due to "buying the rumor" but also FAANG-M's massive "safe-haven" run-up over the past few months. The highest projected price has been labeled in the rare case Apple knocks it out of the park with their event or institutions want to induce FOMO in an unforgiving market. Overall market sentiment will most likely see through Apple's attempt to minimize the chip shortage and unless the future outlook can justify a sustained support channel, any pump should be short lived.
For logic and reasoning behind the forecasts trajectories, I have labeled each with assumed situations that could cause them, which includes pivot points, TA, fundamentals, historical price action, etc.
NOTE: This is NOT Financial Advice. Strictly for information purposes only. I know nothing and am nobody. I just draw pretty graphs and read an 8-ball.
Note
Eerily following the red line.Based on market sentiment, channel will be bottom, bar anything catastrophic...
Note
It's fun watching this play out, we are crossing over different predictions as the market sentiment changes.
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.