Stock market: Apple's stock may correct
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Trade idea
SELL 210; TP 206; SL 211.50
Apple Inc. released Q1 earnings report this week. The stock rose to the highest level since October above $215. Then, however, it met the resistance of the 78.6% Fibo retracement of the 2018 decline and formed a “shooting star” candlestick on D1. As a result, it might be time to remember that Apple’s earnings and revenue declined in the first 3 months of the year, although not as much as analysts expected. Still, the various challenges ahead allow us to expect a correction to the downside.
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