$AAPL / Short Idea / The Big Short V2

25 apr 2022

Aligned with the overall market, Apple looks poised to return to lower levels. We are once again approaching a multi-year support line which will be a true make or break scenario. We must recall that the more times a support/resistance level is tested, the more likely it is to break. Once this level is broken, it will confirm this A-B-C corrective move to the downside. Once this is confirmed, we will have multiple opportunities to play this to the downside, a retest of $164, a retest of the support line once it turns into resistance, and the break of said support line itself. The profit levels we will look for once we get to the lower levels is $129.5-$126.4. If we break below, we will have to reanalyze for the next profit levels beneath that. This would result in a ~30% correction from all time highs on Apple, which after an incredibly impulsive 2 years since covid where we posted over 200% gains, is more than reasonable & normal.