Apple: Changing The Channel?

www.investing.com/analysis/apple-changing-the-channel-200624813

By Tim Knight | May 25, 2022 12:33AM ET

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Apple (NASDAQ:AAPL), the one thin reed still holding this joke of a market together before it completely collapses, has undergone an important change in recent weeks. You see, for almost a decade, it reliably banged within that large channel you see below, and at one point, the tidal wave of free Fed money became so overwhelming, it blasted above this channel and formed a smaller, higher one.

Apple Inc, Stock Chart

This most recent channel held in place for a couple of years, but it broke this month. My view is that AAPL will keep slipping in price until it finds (temporary) support at the trendline of its prior, larger channel. In other words, this party has a ways to go.

Apple Inc., Stock Chart

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Hei Leopold May 25, 2022 5:34AM ET

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Energy (natgas blue) is crowding out consumer's ability to spend money on tech.

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