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Markets by Mike Paulenoff 4-30 - Is AAPL Negatively Traversing its Dominant Dec. - Apr. Bullish Price Channel

Notice: this was written/released before the closing bell.


Is AAPL Negatively Traversing its Dominant Dec. - Apr. Bullish Price Channel (like GOOG)?

Tuesday April 30th, 2019
by Mike Paulenoff

AAPL reports earning after the close. So far today, it is under a bit of pressure, down 1.9% as it probes nearest term support at 202.00, which if violated and sustained, will leave AAPL vulnerable to downside continuation to test much more important support lodged from 196 to 193. The lower target zone will represent a challenge of the lower boundary line of the bullish price channel carved out off of the 1/03/19 low at 142.00, and as such, likely will be the location of significant stop-loss selling.

Otherwise, in the absence of a challenge of the lower channel boundary zone, AAPL's dominant Dec.- Apr. uptrend will remain intact, and imply upside potential towards 215 next. Last is 200.80/84


$AAPL

Mike Paulenoff is author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 15-day Trial!

*  I really like Mike's charts and analysis. This is shared with my readers here via MPtrader.com  *


Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal.

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