Bearish APPLE at 149 for 135
I see 5 waves down in AAPL from its all time highs to 142.20$ and 3 waves back right at the 61.8% Fibonacci retracement and Daily cloud resistance. We are currently in an area where the corrective sequence could already be complete or near completion. I now expect another sequence of 5 waves down that will at least make a new lower low below 142.20$. Most favorable target area is around 135$. A rejection from cloud resistance and a move back below the Daily Kumo will be a bearish sign and will increase chances of my bearish scenario. A break above 156$ will diminish the chances of this bearish scenario. I'm shorting APPLE here with 156$ stop.
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.