Apple Inc (AAPL) is in freefall after earnings. The stock is lower by over 6% trading just above $108/share. Based on technical analysis, Apple stock price target is $90.50. This means Apple has another 15% downside to go. This price target is found by using the daily 200 moving average, then calculating the measured move from the all-time high to the pivot low on September 21st, 2020. Now take that $35 drop and subtract it from the recent pivot high on October 13th, 2020. This gives an exact price target of $90.50. This also happens to be exact the daily 200 moving average. To add to the credence is a major gap fill at just around $96.00. Just above the Apple stock price target. Ultimately, all signals point to move downside in Apple. In addition, regardless of who wins the election, scrutiny on technology names like Apple are only going to increase. There is a huge amount of money heavily long Apple. This still has to unwind. See you at the $90.50 Apple stock target price.
Comments
Log in or sign up to join the conversation.