AAPL, daily
Winer - guest (CNBC)
Summary
There is an awful lot of chatter about the tech behemoth that is AAPL. From the issue that the product cycle for the iPhone7 is likely to span 3 years - rather than two, to very spurious comments from TSLA CEO Musk, about a possible iCar by 2020.
AAPL will certainly remain a key tech player for the long term, but market sentiment has become quite sour since the April high of $131.29.
During the lunch time show on CNBC, one guest/analyst - Winer, was one of the few who are seeking renewed downside. Ironically though, his $85 target is a mere $4 below the recent May 12'th low of $89.47.
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The bigger monthly view...
The 10MA ($103s) is currently one particularly important aspect of upside resistance, and unless AAPL can settle June >$105, broader price action is still leaning bearish.
Having recently seen the $89s, if the main market implodes to the sp'1600s, the next natural fibonacci target would be around $70.
