On Friday’s close the AAPL stock was down 27% from its all-time high just 3 months ago.
In this short period of time the company’s market capitalization has dropped by about 200 billion USD and tons of money have been lost by traders who have been trying to guess where this downfall will end.
For sure the company produces excellent innovative products, has great market share and marketing and makes huge profits every month. But, like all stocks, AAPL is subject to declines. OK, this one has led AAPL into bear market territory so it has not been easy for many to handle, especially given that AAPL has been everybody darling in the last years while those who shorted it during that time mostly lost money over and over again. But things change in the marketplace and the Trend is clearly down putting bears on control.
The potential support levels below might work only if accompanied by a strict stop-loss plan. Focus in the 455 to 465 area, where a major trendline back from 2009 can be found. A bounce at this level seems to be a good risk/reward trade. Friday’s close was 509,7 so patience is required for this trade.
We will be watching this stock closely on this blog.