Is AAPL Set to Drop to 200?

A daily AAPL for 2019 shows it hit the top of a trend channel in mid-November.

Kicking off December, AAPL made a nominal new high, but closed below Friday’s low.

In doing so, it carved out a Key Reversal Day.

At the same time, AAPL triggered a Soup Nazi sell signal.

This is a new 20 day high that immediately reverses back down through the prior high of at least 4 sessions ago within the 20 day look-back window.

The purpose of the 4 day interval is to guard against continuation moves.

AAPL is more extended at this sell signal than it was when it led the market down on October 3, 2018.

Caution is warranted.

AAPL is gapping below its 20 day m.a. with authority this morning, with the lower rail of the red trend channel near 240.

252 is 90 degrees down, so trade below 252 projects to 240 region, with 180 degrees off high, giving 236.

So there is good symmetry flagging the 240ish region.

I created a 2nd trend channel by connecting the May top and the November top and paralleling a trendline from the January low, which perfectly hits the important Jue low.

The bottom of this trend channel ties to the low 200 region.

221 is 270 degrees down with 360 down being 207.

With 50% of the year’s range at 205, the bottom line is AAPL has risk potentially to the low 200’s.