This is the next big line in the sand for Apple shares, say strategists
Whether trouble ends up finding weary and overstuffed investors at the end of a holiday-shortened week depends on a few factors—oil, trade headlines and perhaps some holiday spending numbers.
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“A break through support at $175.00 could see the share price take another big hit,” said Lawler in a note to clients.
He explains that before and after Christmas last year, there was similar talk to now of production cuts and permanently slowing iPhone sales. But that was “glossed over as iPhone prices went up and the bull market carried on,” Lawler said. If Apple falls through $175 now, shares could drop to $140 “with proportionate falls in the S&P 500.”
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https://www.marketwatch.com/story/this-i...2018-11-23
Whether trouble ends up finding weary and overstuffed investors at the end of a holiday-shortened week depends on a few factors—oil, trade headlines and perhaps some holiday spending numbers.
...
“A break through support at $175.00 could see the share price take another big hit,” said Lawler in a note to clients.
He explains that before and after Christmas last year, there was similar talk to now of production cuts and permanently slowing iPhone sales. But that was “glossed over as iPhone prices went up and the bull market carried on,” Lawler said. If Apple falls through $175 now, shares could drop to $140 “with proportionate falls in the S&P 500.”
...
https://www.marketwatch.com/story/this-i...2018-11-23