Apple have been trading in the downscoping channel for over a year now. Typically such times of consolidation produce large moves in either direction. I am leaning towards move to the downside for now, but I have been plenty wrong in the past.
Case 1: Official recession, possibly military actions in Taiwan would cause move down. Of course all of US equity markets would suffer in such case. From technical perspective 82 or just below it is pre Covid top and I expect it would act as a support - hence it's my price target. Around 50% downside
Case 2: Fed cools off on the tightening narrative, US avoids recession, and equities see sunny days ahead. If stock makes 2 consecutive daily higher closes above 183 , then I expect strong bull run after that. Stock could easily double.
This is based on the weekly chart. On the daily chart either way there is a possibility markets could approach $180ish range to test previous highs, and decide larger move after that.
Case 1: Official recession, possibly military actions in Taiwan would cause move down. Of course all of US equity markets would suffer in such case. From technical perspective 82 or just below it is pre Covid top and I expect it would act as a support - hence it's my price target. Around 50% downside
Case 2: Fed cools off on the tightening narrative, US avoids recession, and equities see sunny days ahead. If stock makes 2 consecutive daily higher closes above 183 , then I expect strong bull run after that. Stock could easily double.
This is based on the weekly chart. On the daily chart either way there is a possibility markets could approach $180ish range to test previous highs, and decide larger move after that.
