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$AAPL . Bearish cross and support

Screen Shot 2013-09-17 at 2.06.41 AM

$AAPL continues to gap down on news that China Mobile is reducing its subsidy for iPhone 5c; a move that may have an impact on the sales.

Currently, on the Ichimoku chart, a bearish cross is seen with a critical support level at $453.84 .

Should the price level close below this or unable to bounce off from this level, given the thin kumo support below, it is likely $AAPL will drop to $392.

 

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Tech

$BBRY . Blackberry Setup for bearish move

$BBRY - Ichimoku Bearish move setup
$BBRY – Ichimoku Bearish move setup

The Ichimoku chart is showing a good setup for $BBRY.

Currently, it’s closing price is at $16.67.

On the Ichimoku Daily Chart, a bearish cross seems to be forming and the thin kumo support below suggest weak support below.

A break from this level will give us a target of $12.50

Some catalyst to consider:

  1. Are sales really good in the emerging markets that $BBRY is targeting? Are they getting converts?
  2. Have they gain traction with the developer’s base?
  3. Are the existing customer base going to upgrade their BlackBerry or are they going to switch to an iPhone or an Android based phone?
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Tech

$NFLX . Bearish?

 

 

$NFLX was actually featured during Apple’s new iPad launch.

However, despite being featured prominently, the share price did not react positively.

While the general market has surge higher, NFLX is not going anywhere.

On the Ichimoku chart, NFLX is now showing:

1. A bearish cross from the Tenkan sen and Kijun sen

2. Sitting on a fairly thin kumo support

3. We can also see that the current price level is below the gap from Jan 26.

A drop below the kumo will allow us to have a target of $60 price range.