FX.co ★ Technical analysis Apple for May 19, 2022

Apple continues to push lower as expected and should continue lower towards the 38.2% corrective target at 113.08. As we saw it with Target (see our article just before) there is a clear risk, that the Market will be griped by fear and sell-off Apple in a major way.

Yes it's nice to have the newest iPhone, but is it a necessity? No it's not. If the Market starts to think in those terms, then the risk of a major sell-off is increased big time.

No matter, if the Market pushes Apple down in a major sell-off or in a more controlled way, the end result will be the same, a decline towards the 113.08 target and possible even closer to the 50% corrective target at 91.50.