APPL to $80?Here we are looking at AAPL on the daily TF.
What we are looking at is a Yellow trend line going back to January 2020, right before Covid lock downs.
As you can see, this line served as major resistance until the breakout in June of 2020. I believe that this trend line will be tagged again in 2023.
The upsloping Red trend line was a major support line until it was tagged repeatedly and then broke. If you look at the tail of the First big red arrow you will see 2 boxes.
The purple box indicates that it had broken the support line and the yellow box is showing that line now as a resistance. Also note that there was a retrace to the scene of the crime before further downside action.
We are now watching for AAPL to fall to the $100 dollar level and ultimately down to $80 which is indicated by the blue line then the yellow line.
Notice that this is the first support level , it is an even number, and is right at double bottom where the stock should get a technical bounce and then push through to $80 sometime in 2023.
What do you think AAPL will do next? Let me know in the comments!
Cheers!
