Apple ready to fall

The giant company Apple facing some problems that could make its stock price resume the decline started last year , as we take a look at the chart we clearly see the bearish head & shoulder formation which broke below the neckline 105 and it’s now back retesting that area resistance area providing a nice opportunity for bears to be back in action to take it down to 80 – 78 .

Apple

NASDAQ:AAPL recent upmove trapped in a rising wedge facing resistance levels 105 – 108 – 111 which represent a reversal zone for the stock , any strong breakout above 111 will invalidate this scenario .

Apple

The stock could keep falling even further if it breaks it’s bullish trendline to reach 55 area .

Apple

However bulls still have another chance to take Apple to it’s glory days around 82 support or after a break of 111 to retest the highs .

Apple

AlienOvichO

Full time Trader & Analyst