A recent analysis from BlackRock looks at Apple and other major AI stocks, highlighting the importance of AI within the tech sector. Although AI remains a hot topic, a selloff in the tech industry has raised concerns about an AI bubble. BlackRock acknowledged ongoing market volatility driven by recession worries, the upcoming US elections, and profit-taking by investors. Despite this, US corporate earnings, particularly in AI, have been stronger than expected. BlackRock advises diversifying investments into sectors like energy, utilities, and AI-related infrastructure while remaining cautious about inflation and overblown interest rate cut expectations.
APPLE – H2 Timeframe
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Following the forecast from my article a couple of weeks back, price on the 2-hour chart of APPLE responded perfectly to the supply zone, creating a bearish break of structure after the initial rejection. The area of interest for the entry is based on the retest of the turncoat trendline, the supply zone, as well as the 76% of the Fibonacci retracement tool from the SBR (Sweep-Break-Retest) pattern.
Analyst’s Expectations:
Direction: Bearish
Target: 210.00
Invalidation: 234.00
AMAZON – H4 Timeframe
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As usual, the SBR (Sweep-Break-Retest) forms a prominent part of my analysis. Here on the 4-hour timeframe of AMAZON, we can see that the SBR pattern fits within the range of the daily timeframe pivot; the intersection of the trendline resistance, and the supply zone around the 88% Fibonacci retracement level. Once price reacts to the supply zone, the bearish intent will be confirmed.
Analyst’s Expectations:
Direction: Bearish
Target: 164.10
Invalidation: 202.00
CONCLUSION
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