4/20/2018 Markets sell-off with Apple leading the move down.

Fun Fact #31

Did you know that in the Chinese Stock Market, once a stock rises or drops 10%, the trading is halted for the day?


 

I will do a weekly analysis update on the major indexes and FAANG stocks tomorrow or Sunday. I will also update my targets sometime this weekend.

AAPL 4_20_2018.PNG

AAPL dropped over 4% today and pulled all the major indexes down significantly. I was honestly quite surprised by the sudden move downwards. I think there’s a good chance that Apple recovers within the next couple weeks as it bounces off the 165 level. I’ve highlighted a relatively strong support level in the chart above. Notice how many times Apple bounced off the 165 level. Apple will be reporting earnings in early May so be on a lookout for that. 

AAPL 4_20_2018 Weekly.PNG

The weekly chart of AAPL (above) looks very similar, with 165 being a level AAPL has bounced off of multiple times in the last couple of weeks. 

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