AAPL on target to low $100s

On Monday we posted on our facebook page, see here, that AAPL would most likely drop on earnings and target low $100s. True to form it did 🙂 That’s the power of combining several forms of technical analyses and not use opinion. Pure price action & fact-based is what works.

What’s next!?  We see no reason yet to change our POV, and still expect AAPL to reach the ideal target zone, from which it should turn back up to new highs.
All our indicators are now pointing down and/or on a sell (our daily-timeframe buy/sell indicator -the daily A.I.- is now on sell); all wanting to see lower prices. This is in line with our price target zone. Price dropped well-below its 20d simple moving average signaling a (short term) downtrend as it did in early September. Price would need to drop below its June high (black 1) before we will become bearish on AAPL in the long term. For now we see this as a regular correction and good buying opportunity once our target zone is reached. This is not trading advice!

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