$AAPL suffered a strong drop in price just over a week ago.
After hitting a final high mid December, we saw price fall from the Go Countertrend Correction Icon (red arrow) and then even further from a gap down in mid January. The news has been full of Apple’s troubles and price action bears this out. After the gap, GoNoGo Trend identified a “NoGo” trend as GoNoGo Oscillator broke out of a Max GoNoGo Squeeze into negative territory. After hitting extreme oversold levels and a NoGo Countertrend Correction Icon (green arrow) price has rallied and is testing a horizontal level that could act as resistance. We see as well that GoNoGo Oscillator is testing the zero line from below where we will watch to see if it finds resistance. If the oscillator is rejected at this level then we will know that the “NoGo” trend is healthy and we will expect trend continuation to the downside as price makes an attempt at a lower low.
