AAPL:A Bearish Reversal Looms with Potential Downside of -9.22%?

Hi Realistic Traders, let's delve into the technical analysis of AAPL !

On the Daily timeframe, we've spotted a significant double-top pattern, suggesting a potential bearish reversal if the neckline is breached. Also, the price has fallen below the EMA200 line, indicating ongoing selling pressure. Despite two attempts, it hasn't managed to break above the EMA200 line, indicating strong resistance. This resistance could lead to a potential downturn in Apple's stock. Recently, there was a breakout below the neckline, confirming the bearish trend. Furthermore, MACD is showing bearish divergence in the negative zone, supporting the idea of a downward movement towards our target at 149.55."

It is essential to note that the analysis will no longer hold validity once the target/resistance area is reached.

Disclaimer:
"Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on AAPL."

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