2024-02-08 04:58:03 ET
Summary
- The US technology sector has performed well, but signs of a slowdown in consumer electronics and a shift in market sentiment pose risks.
- Apple recently achieved a new all-time high, but its consolidation phase suggests caution and a potential retracement.
- Short- and long-term investors should take a cautious approach, setting stop-loss orders and scaling into positions based on market conditions. AAPL's technical outlook suggests a hold position.
- In this technical article, I discuss essential price levels and metrics investors could consider to gain an edge over the stock’s likely price action.
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Apple: Hitting The Mark, Time For A Breather (Technical Analysis, Downgrade)