SPY divided by AAPL ratio chart
Updated
As you can see on this ratio chart, we had a breakout and backtest with weekly bull divergence, which likely means AAPL will gain less value - or lose more value to SPY in the coming weeks. Since I expect the market to fall from this area, I also expect AAPL to outperform to the downside for a while. Earnings could pump it first - and if so, I think AAPL would be an ideal short near 150 if it could get there.
The monthly charts are also showing bull divergence on the RSI. First target would be about 3.40 area resistance.
The monthly charts are also showing bull divergence on the RSI. First target would be about 3.40 area resistance.
Note
AAPL to a strong resistance area of 150 Note
AAPL getting hammered after hours. Bulls' are saying it's gonna be like MSFT and bounce back hard. Probably not considering the technicals.
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