AAPL: Bear Flag Forming
After earnings AAPL has seen a drop of around 10%. I don't think it is over because of the super obvious bear flag forming. Using a measured move, if we break down from this flag, the target is around $160-162, which also aligns with the 0.5 fib retrace level. I think we could get there by mid September.
Given that markets are turning to risk-off (see DXY), I think going short on AAPL isn't the wildest trade.
Moreover, AAPL is finding resistance at the 1W MA and could drop to where the 1M MA is, which will be in the low 160s at September.
This is not financial advice, do your own research and trade at your own risk.
Given that markets are turning to risk-off (see DXY), I think going short on AAPL isn't the wildest trade.
Moreover, AAPL is finding resistance at the 1W MA and could drop to where the 1M MA is, which will be in the low 160s at September.
This is not financial advice, do your own research and trade at your own risk.
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