Many investors continue to follow or own positions in Apple stock (AAPL). After all, it is a visible part of investors 9-5 as well as their everyday daily lives. In short, it’s a tech behemoth.
As a trader, I like to look across multiple timeframes and highlight key levels. Looking at Apple, I can do this using AAPL price pivots to expose opportunities within those timeframes, be it daily, weekly, or monthly charts.
Here’s a quick update on what we’re seeing:
1). AAPL is stalling out at the yearly(P) AAPL price pivot. I have highlighted this pivot several times on Twitter. I feel the high for this year could potentially be in. This level will likely decide that.
2). Â A failure at the Yearly(P) AAPL price pivot would open the door for a possible fall this spring to the YearlyS1 pivot at $86. In 2013 Apple stock price failed at the Yearly(P) AAPL price pivot at $555 and then fell to $388.
Apple Stock Chart w/ Yearly Price Pivots
Earnings this quarter could drop 25-30% over last quarters. Perhaps that the catalyst for the decline I foresee. Only a strong breakout above the yearly pivot would alter this.
Lastly, here is an intraday zoom chart with AAPL price pivots. I would say that there is an 80% chance the Monthly(P) @ $105.68 will get tested in April.
Thanks for reading and have a great week.
Twitter: Â @Pivotal_Pivots
The author does not have a position in the mentioned securities at the time of publication. Â Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
