Apple Inc (AAPL) Starts Crashing Hard, Can Go Lower!

Aug 24, 2019

Apple Inc (AAPL) the biggest read candlestick in a while to break below EMA10. Multiple signals are telling that this isn't the end... AAPL can go lower, let's take a look.

• We have increasing red volume.
  
• We are looking at a MACD that is trending lower.
  
• The RSI moved below 50 (at 47.19 right now) and is clearly looking down.
  

EMA50 (202.60) worked as support and held Apple's drop... Normally we see a bounce here before additional bearish action. I am getting the feeling that there won't be any bounce, it will be pure blood on Monday... But this is just a guess.

If EMA50 can't hold (breaks), then expect for AAPL to move even lower and test 198.01 or EMA100.

How far low can it go?
For starter, I believe it can easily test EMA300 at 189.40. Depending on how things develop, a bounce can happen here or it can continue going lower.

My guess, you ask?
Apple Inc. will have a really hard time and can continue much lower. It might test the last low (blue dashed line).

Chart

• Magenta lines = resistance.
  
• Blue lines = support.
  

Thanks a lot for reading.

Share your thoughts in the comments section below.

Namaste.