Apple : Gravity Catching Up ??

Defying gravity, Apple rose from $11 in 2009 to $132 in 2015.

But gravity seems to have caught up with the Apple  as after peaking at $132 in the second quarter of 2015, the stock is  in a bearish grip currently trading sub $100.


We had indicated a top in Apple as early as August 2015. See post.
 http://eqtrend.blogspot.in/2016/01/august-2015-calling-top-in-apple.html

The following long term chart (quarterly) paints a gloomy  picture for Apple stock price in future.

Apple may take support at the long term trend line at $80-82 which should hold. The divergence on the long term TO is worrisome, as if the long term trend line is broken, the stock may test $55 in the long run.

The price rise with lower volume during 2013-2015,  indicate distribution at higher levels with smart money getting out.

The best of Apple may be behind us for a long time to come.

Apple Inc. Quarterly Chart

August 2015 : Calling the top in Apple !!

Here is how, when the Dow was at its peak, the  top in Apple was predicted  during August 2015 when Apple hit $132,  just before the launch of iPhone 6s.

Leading the market correction,  Apple has been in long term downtrend ever since having made a low of $ 92.






















Apple is presently oversold and due for a bounce, but remain in downtrend with a target of $ 80. 

Apple Weekly