Apple (AAPL) Breakdown And Bear Flag Signals Trouble

Apple (AAPL) Breakdown And Bear Flag Signals Trouble

Published At: Nov 23, 2024 by Verified Invesing
Apple (AAPL) Breakdown And Bear Flag Signals Trouble

Shares of Apple Inc (AAPL) are flashing a warning sign to investors. Apple broke a major support trend line that goes back April 2024. The breakdown confirmed and has since started to form a bear flag. This is negative upon negative and signals there is a high probability of further downside.

Not only does this reflect negatively on Apple, but it also may bring the tech sector down with it. Should Apple begin to fall, the first support will be $215, followed by $200 and $173.

The fundamental risks for Apple are big. Not only is there a risk of a U.S. slowdown but if Trump imposes major tariffs on China, China may retaliate against U.S. companies.

This likely explains the chart pattern as institutions unload into retail buying.

In summary, there is a high probability of downside in Apple over the coming months.

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