Technical Analyst, Saxo Bank
Apple could be set for a larger downturn. After a strong bounce from mid-June till mid-August it formed a Gravestone Doji mid-August on the weekly chart.
(Gravestone Doji is where open and close is almost at the same price and with a large upper shadow and no lower shadow).
But more importantly, it was a Doji that is a part of a Doji Evening pattern (circled) which is a strong indication of top and reversal. Power shifted from buyers to sellers and Apple was hit by sell-offs.
Weekly RSI is still showing positive sentiment and no divergence, however indicating higher levels but a share price close below 150.80 is to jeopardize that scenario.
However, daily RSI is showing negative sentiment supporting the bearish picture, and if RSI closes below 40 threshold the bearish picture is confirmed. If Apple breaks below 152.60 it is likely to fuel further sell-off. A close below support at 150.80 will further add top the bearish picture that could take Apple down to June lows around 130. Some support around 142.
If June lows are taken out there is no strong support before around 109-104.
To reverse this bearish outlook Apple needs to close above the 176.15. If closing above 164.26 Apple share is in neutral and could move to test the 176.15 peak (peak of the Gravestone Doji)
A new fragmented world order can render some of today's infrastructure obselete, but it also calls for massive new investments across the globe, which requires a new set of strategic and tactical investment strategies.
Steen Jakobsen,
Chief Investment Officer
As globalisation turns to fragmentation, China seems set on playing a role in the global economy, while simultaneously working towards proofing its own economic situation from external shocks and crises.
Redmond Wong,
Market Strategist
The recent bank runs and ensuing challenges are reminicent of something we've seen before. Will it end like the S&L crises of 1986 and 1995?
Chris Dembik,
Head of Macroeconomic Research
Equity markets need to recalibrate to another - fragmented - global world. What's your view on equities in this market - are they going up or down?
Peter Garnry,
Head of Equity Strategy
With every development comes new opportunites, some of which could be in India. Have you considered the country as a part of your diversification strategy?
Charu Chanana,
Market Strategist
A collar is an option strategy that allows some protection while maintaining some upside potential. What investment would you like to use a collar strategy for?
Hans Oudshoorn,
Trainer Academy
There are arguments to be made for many commodities to have upside. Which are you paying the most attention to this quarter?
Ole S. Hansen,
Head of Commodity Strategy
In a very challenging macro environment, which currencies do you think will come out on top?
John J. Hardy,
Head of FX Strategy