Thursday, 12 May 2016

AAPL - breaks the August 2015 low

Whilst the main market saw a day of swings, there was sustained and significant weakness in Apple (AAPL), which settled -2.4% @ $90.33. The break of the Aug'2015 flash print low of $92.00 is very important, and opens the door to the $70s this summer.

AAPL, daily

AAPL, monthly


Suffice to add, market sentiment is increasingly negative towards the tech behemoth that is AAPL.

Regardless of any short term bounces, the $80 threshold, but more so... the $70 fib retrace level appears a very valid target within the next few months.