Stock market: Apple is under pressure

Stock market: Apple is under pressure

Trade idea

SELL 184.00; TP 178.00; SL 185.50

The company’s presentation on Monday didn’t save its stock from correction. The price returned below the 200-day MA (193.00) and the 50-week MA (188.60). All in all, this year the stock retraced up almost 61.8% of the 2018-2019 decline, but the psychological mark of 200.00 turned out to be too big an obstacle.

Awesome oscillator didn’t confirm the recent high of the price and a bigger correction towards the trendline support in the 178.00 area is possible if the market goes below 185.00.

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Notice that to trade stocks with FBS you need to open an MT5 account in your personal area.

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