FXstreet

Apple stocks (AAPL) broke Ichimoku cloud for the primary bearish market condition with 109.97 level as the next bearish target.

• "This past October 26, Dialog Semiconductor (which derives a large portion of revenues from Apple AAPL -0.89%) reported results in Germany before the opening bell that were worse than anticipated and then went on to lower guidance for the December quarter."
• "That day shares of Apple opened down about 1% before ending the day lower by 3.2% as investors sold off Apple on the guide-down from Dialog Semi."
• "This (day Dialog taking down numbers) just happened to be the day before Apple reported September quarter numbers which came in more than fine given all the hand-wringing going into the event."

If the price will break 109.97 support level from above to below so the primary bearish breakdown will be continuing.
If the price will break 119.70 resistance level so we may see the reversal to the primary bullish condition.
If not so the price will be ranging within the levels.

• Recommendation for long: watch close price to break 119.70 for possible buy trade
• Recommendation to go short: watch close price to break 109.97 support level for possible sell trade
• Trading Summary: bearish breakdown

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