S&P was looking upwards just a day ago. Something changed?
Stock market: Apple's stock may correct
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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S&P 500 met resistance at the 61.8% Fibo of the January 24-27 decline. The index is quite volatile these days offering traders opportunities to make profit.
The stock of Pepsico formed a higher low and arrived at the resistance line that connects October and November highs in the 136.50 area.
Gold is steadily plummeting for the third consecutive day. Where is the bottom? Let’s find out.
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