AAPL Starting to TurnOver – Bearish DailyPlay – March 8th, 2019

The bearish DailyPlay we chose for Friday, March 8th is Apple (AAPLWealth Strength IndexAAPL is Extremely Up and trending Up). AAPLWealth Strength IndexAAPL is Extremely Up and trending Up is part of the Technology Sector (XLK). XLK has rallied 2.21% higher over the past month and its 1m trend turned neutral yesterday and momentum is starting to reverse lower.

Apple’s 1m and 6m trends turned neutral yesterday and bounced lower off its $175 resistance level. With a technical score of 3 (out of 10), AAPLWealth Strength IndexAAPL is Extremely Up and trending Up is a weak stock that will likely continue to trend lower.
As a stop loss, if AAPLWealth Strength IndexAAPL is Extremely Up and trending Up was to trade above $175 for multiple days, this would invalidate our analysis and suggest getting out of the trade.