APPL nearing the 200 weekly MA. Bearish sentiment remains.

24 Ara 2018

APPL has been on an all out waterfall these last 2-3 months. Price action is currently holding a prior support zone that we saw it hold back in February of 2018, but I think we will see APPL retest the 200 weekly moving average, and if we break below it, we could be setup for more downside. In line with several other stocks I've done Tradingview posts on, APPL also had clear bearish divergence form. We saw price action make a higher-high, while the RSI made a lower-low (as shown by the light-blue lines on both the price action and on the RSI.) There is a possible support zone around 130-132 should the 200 weekly MA get purged, but I'm really watching that 90-95 dollar area, as for we saw it hold on 4 separate occasions back in 2015-2016, but I wouldn't put too much emphasis on it just yet, and would focus more on the price action and the overall market sentiment.

What to watch for:
-Retest of the 200 weekly MA. Watching the 90-95 dollar area specifically as we saw it hold on 4 separate occasions back in 2015-2016 if price starts to drop. Remember, this may take weeks/months to play out. Viewing this from a more macro perspective.

24 Ara 2018

Not

Monthly chart view: