AAPL update July 18

AAPL: Looks to nicely target $102-$103. Why? The chart below tells the story. We’ve two arrows (green and blue) off the March low, that when added to the June low target $102-$103 (black target box). Note the blue arrow will hit the purple descending trendline to the T. This purple trendline connects with the November 2015 price high and ATH high, and price has been unable to break above it. Hence, very strong resistance and thus a great target. Longs should be exited at these levels as earnings are due AH 7/26 and one can then let the market decide if it made another abc up in an ongoing downtrend or if it’s a 1,2,i,ii set up. Thus, there’s still 2-3% upside left; but potentially a lot of downside…

aapl 1