AAPL - Weekly View Confirms Downtrend
AAPL on Weekly view confirms downtrend is just starting.
We have hit the blue log resistance line (from Outter Space AAPL chart) and rejected. We saw this coming, so this is good.
Based on current price trends I am currently in December Puts, looking at the April 2020 puts later.
Good-
We have broken white trend line and are at the top of the rejection. We have time until next stop.
Next stop is pink line. We see if pink line holds.
Based on previous trend, we see that when price hits top blue resistance it rejects pink support as well.
Price continues rejection down until hitting blue log support line (possibly a little lower like last time as shown).
Bad-
We have to wait for the big correction. No biggie. It's coming.
I feel the gaps outside the blue log support in the $123 area WILL get filled. Just not yet.
The break outside the major log blue lines will indicate an overall LARGE market correction.
AAPL is a major component of SPY and several other ETF's like XLK (where 50% is MSFT and AAPL of the whole ETF).
When AAPL and few other major cap stocks fall, this will be the signal to fill lower gaps.
I understand people love AAPL. The math does not support the price evaluation at this level.
I am still long term believer in what AAPL offers, although I do not own their products.
AAPL Outter Space View - showing major log support
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY.
Short SPY and AAPL.
We have hit the blue log resistance line (from Outter Space AAPL chart) and rejected. We saw this coming, so this is good.
Based on current price trends I am currently in December Puts, looking at the April 2020 puts later.
Good-
We have broken white trend line and are at the top of the rejection. We have time until next stop.
Next stop is pink line. We see if pink line holds.
Based on previous trend, we see that when price hits top blue resistance it rejects pink support as well.
Price continues rejection down until hitting blue log support line (possibly a little lower like last time as shown).
Bad-
We have to wait for the big correction. No biggie. It's coming.
I feel the gaps outside the blue log support in the $123 area WILL get filled. Just not yet.
The break outside the major log blue lines will indicate an overall LARGE market correction.
AAPL is a major component of SPY and several other ETF's like XLK (where 50% is MSFT and AAPL of the whole ETF).
When AAPL and few other major cap stocks fall, this will be the signal to fill lower gaps.
I understand people love AAPL. The math does not support the price evaluation at this level.
I am still long term believer in what AAPL offers, although I do not own their products.
AAPL Outter Space View - showing major log support
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY.
Short SPY and AAPL.
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