Apple about to eat it?

I was flipping through charts today and couldn't help but notice how similar Apple looks to other tech stocks that went on to crash, both this cycle and in 2000. As you can see, we broke through the trendline in early May and subsequently got rejected trying to break above. If we do see this play out as it has with other tech stocks, we could see prices as low as $35 per share, but I'd expect some bounces along the way

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Microsoft in 2000

Kommentera:

Still on track here for the mother of all big boy collapses. We had a nice rally into mid-August that I'm sure trapped a ton of retail traders. We quickly fell back below, got rejected, and now have been rejected at the 155 level. Expecting it to look more like microsoft in 2000 than the recent smaller tech stock crashes, could see a nice bounce off 80, but who knows. I see it eventually consolidating in the 35-60 range for some time before seeing a proper recovery, but this could be years away.