Categories
Tech

$AAPL : Resistance of the gap and weekly kumo

Daily Ichimoku chart of AAPL

$ AAPL rises from the lows of $390 till $500 on news that Ichan has acquired stakes in it.

On the daily Ichimoku chart, it would have point to a great bullish move.

However, with the announcement of the iPhone 5c and 5s, it seems that the market has price in the lack of innovation on the Ichimoku chart.

Weekly Ichimoku Chart of AAPL

We can see a gap down on the daily chart. More importantly, the price remains below the kumo on the Weekly chart.

Clearly, this suggests that the major bullish trend is over for $AAPL.

The growth of the mobile device is hitting a plateau and  the exponential growth in revenue may not be possible in the near term.

For those who bought at $700, it will be a very long term investment if one is going to hold and hope that $AAPL will hit the levels again in the next 1-2 years.

One reply on “$AAPL : Resistance of the gap and weekly kumo”

Comments are closed.