AAPL, NFLX, GOOGLE update 6/20

AAPL: the charts do not look bullish. Period. Of course they can turn bullish, but right now price remains in the red down trend channel and has either completed a b-wave or 1st wave up.

aapl 1.png

The chart annotation says enough. Moving on to the daily TI chart we see price below all important SMAs, and all SMAs are pointing down, except the 20d. All TIs are also pointing down. Price is right at the lower Bollinger Band, which is ready to expand on further weakness. A drop below today’s low of $95 targets $91-$92. There is no buy signal on any TI. Until then we remain prudently bearish.

aapl 2


NFLX: Also this ticker’s charts continue to look bearish. We’re still unclear if we’re dealing with a set of 1st and 2nd waves (big 3rd wave should now be around the corner) or of it are a continued set of a, b and c-waves. Price is still unable to break above the red descending trendline and needs to stay above the upper white trendline, or the lower white will be next.

nflx 1

The reason we do favor the bearish count is the internal wave-relationship of the February-April bounce; the 61.8% retrace etc. What we can observe now is that all TIs are still pointing down wanting to see lower prices. There are no buy signals anywhere. Price is below all SMAs. Hence, the charts are bearish. Can they improve? yes they can, but not until they will is it prudent to remain defensive on NFLX.

nflx 2


GOOGLE: We remain also bearish on Google. The daily TI chart tells the story why: all TIs keep pointing down. Price below all SMAs. 50d and 20d SMAs point down. Price at lower bollinger band, and the bands are expanding: weakness. Price reached internal bearish Fib-relationshop for black major b and red intermediate b, and is now targeting $660 based on c=a and the classic bear flag that formed since the top in early February. We’ll turn bullish when the chart turns bullish, for now it hasn’t done so. simple.