Apple tumbles after company cuts forecasts for key quarter
Apple has shown clear signs of a bubble in September and October 2018.
I started to point out that Apple might be forming a major top in September. But, it took another new high and a break of the supports of 211/210 and 207/205 until the SELL signals were triggered.
Go to “SEE THE PREVIOUS PUBLICATIONS” for my Chart Outlook on the US Equities from September to October. On 17.10.2018 and 23.10.2018 I stated that “A fall below 211/210, 207/205 and 198 will signal a major break of the long-term uptrend.”
With todays selloff on the news that Apple cut its forecast the stock is testing the next major support, which I had identified around 146 / 143. Here, the stock is down 39% from the peak in October.
A break of 142 is likely to signal 135, 120 or 95 / 90.