Apple, Apple, Apple : the action is defeating the gravity since so much years now.
What is Apple ?
"Apple Inc. is an American multinational technology company headquartered in Cupertino, California, that designs, develops, and sells consumer electronics, computer software, and online services. It is considered one of the Big Four tech companies along with Amazon, Google, and Facebook".
Revenue : US$265.595 billion (2018). Net income : US$59.531 billion (2018).
You heard correctly. My bear radar is on the BIG FOUR now. We move on to serious thing !
Today the price needs a significant pullback. Is it the beginning of a major crash ? As the market is clearly irrational it's little earlier to say it. But, at least, a correction is due.
Simplified Technical Analysis :
RSI divergence on Daily timeframe is alarming. And a bearish divergence is forming on weekly too. We are way over-extend over the weekly 9. MFI shows signs of reversal. Pattern looks mature.
Type of market : Irrational (BUBBLE). Type of trade : Speculative reversal.
Support to take TP1 : EMA 21 (yellow one). Stop-loss : Just over 272.16
Please let me know in the coming section which asset you want me to analyse ! Have a nice day everyone.
DISCLAIMER : I'm not financial advisor. You trade at your own risk. I can't be responsible for your losses !
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Trade still active
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Unfortunately : APL get my stop-loss ! Well done bulls. But i'm keep waiting my time.
The will mean the whole market correcting then! Thanks for the update. Two polar opposite stocks if either interest you. A big one Wells Fargo, and a very small one who some are feting to have big rise Dynacert who are is CO2 reduction and car/truck emissions one strand being hydrogen fuel.
Keep em coming...much appreciated.
Borgilskye
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Thanks for update...must admit I was not brave enough to short Apple. I'd be grateful for a wave count of Palladium which has been going parabolic over the past 2-3 years. Making good money long on this! (used in car catalytic convertors)
Keep em coming...much appreciated.