Apple’s stock is at risk
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Trade idea
SELL 203.80; TP1 200.00; TP2 197.50; TP3 191.50; SL 205.00
The stock of Apple formed a bearish candlestick with a very long upper shadow on W1 and closed below the 2018-2019 resistance line. This is a big bearish technical development. In addition, bear in mind that Apple is extremely vulnerable to the increasing trade tensions between the United States and China. As a result, this week the stock’s price will likely stay under the negative pressure. Our targets are at 200.00 (psychological level), 197.35 (50-, 100-day MAs )and finally 191.50 (50-week MA). Resistance is at 208.00 and 215.00.
