jdharward

APPL - Cup + Handle but has to decline more first

jdharward 已更新   
NASDAQ:AAPL   Apple Inc
Looks like AAPL could be forming a possible cup + handle formation on the weekly.

But first the price has to decline a little further. Probably $172-175 before reversal in 2-4 weeks. Like to close at or below $185 this week.

Why 2-4 weeks? That's a rough estimate of when a "trade deal" might be worked out. A successful trade deal will undoubtedly send the price higher. If this is a cup+handle then to new all time highs.

However, today Apple faces several headwinds. Tariffs would require they up the price of their phones by 11-15% to maintain current profit margins.

Supreme court is allowing an antitrust lawsuit to move forward

Declining sales, especially in China.
Chinese recession in progress.

Price is very likely to close under $185 this week.

A price reversal is likely to accore off the last Gann Fan blade, pointed to by the blue arrow.
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