Wednesday, February 10, 2016

Annual Trading Forecast on Apple (2016)

Apple stock (NASDAQ:AAPL) is in a major downtrend and this is a bias that is expected to continue, based on what is happening in the chart.

The major downtrend started in December 2015, and it has held out till now. Although the market has consolidated so far this week, it is below the EMA 21 on the daily chart, while the Williams’ % Range period 20 is often around the oversold territory.

It is advisable that buyers should shun Apple stock until it is clear that the bearish bias is over, i.e. until the price goes above the EMA 21. Until then, occasional rallies should be taken as short-selling opportunities.

The outlook for Apple is bearish for the year 2016.

This forecast is ended by the quote below:

“Good traders take many losses; they admit they are wrong and keep the damage small. Not having to win on every trade and taking losses when conditions indicate they should stick to what allows them to be profitable over many trades.” - Cory Mitchell

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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