AAPL: Reversal Pattern, Starting Point of Bearish Trend to $100?
Updated
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Chart Perspective
AAPL has broken out of the substantial support/neckline area. The breakout of the Double Top Pattern could indicate a possible trend reversal. Furthermore, The Trend is moving below the EMA 200 Line, confirming a bearish trend. The MACD Indicator made a death cross, signifying a potential downside movement to the target area.
Fundamental Drives
1. The Easing Covid Policy in China could help spur global economic growth but would also add further inflation to the global economy.
2. The Prolong High Inflation Environment Rate would force the central bank to increase interest rates even further.
All other explanations are presented on the chart.
The roadmap will be invalid after reaching the target/ resistance area.
"Disclaimer: The outlook is only for educational purposes, not a recommendation to put a long or short position on the AAPL"
Chart Perspective
AAPL has broken out of the substantial support/neckline area. The breakout of the Double Top Pattern could indicate a possible trend reversal. Furthermore, The Trend is moving below the EMA 200 Line, confirming a bearish trend. The MACD Indicator made a death cross, signifying a potential downside movement to the target area.
Fundamental Drives
1. The Easing Covid Policy in China could help spur global economic growth but would also add further inflation to the global economy.
2. The Prolong High Inflation Environment Rate would force the central bank to increase interest rates even further.
All other explanations are presented on the chart.
The roadmap will be invalid after reaching the target/ resistance area.
"Disclaimer: The outlook is only for educational purposes, not a recommendation to put a long or short position on the AAPL"
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