We haven't seen Apple perform as well as it has the past 6 days since they went on a 20-day green streak during the dot com bubble. And following that streak, apple saw a 50% reduction in stock value. Well, here we go again! RSI is oversold, IV is below the mean, and Apple can't seem to break past the $195.22 resistance line that we so prevalently see tested over the last 9 months. This, coupled with news of the Assistant Attorney General cracking down on tech giants, paints a bearish picture in the short term.
Orange boxes highlight upper bound testing points, while blue boxes highlight the lower resistance bounds. If Apple can't break through this resistance, we will likely see a reversal towards the $180-185 range before retesting. I expect this decline to happen over the course of 1-2 weeks time.
If the $195.22 resistance line is broke (closed above the line for the day) then this analysis is useless. If not, then short AAPL for the range I specified above and enjoy free money!
Orange boxes highlight upper bound testing points, while blue boxes highlight the lower resistance bounds. If Apple can't break through this resistance, we will likely see a reversal towards the $180-185 range before retesting. I expect this decline to happen over the course of 1-2 weeks time.
If the $195.22 resistance line is broke (closed above the line for the day) then this analysis is useless. If not, then short AAPL for the range I specified above and enjoy free money!
