The Shares of the worlds giant technology fall down below $100, this was recorded recently as concerns over the company’s iPhone market drop down and have weight on its investors. As the stock was down initially at 27 percent as it is expected to rise. This was the all time high which have hit April of 2015.
Yet rather than use the sell-off as an opportunity to buy more shares, one trader sees more pain for the world’s largest company, which up until recently could do no wrong in the eyes of investors.
“Apple is in a potentially disastrous situation and it needs to be drawn attention to,” Todd Gordon told CNBC’s last week.
By looking at the Apple Company’s long term designed chart, Gordon specifically noted that its long term uptrend is not in danger to be breached. Meaning this can be in the verge of technical breakdown. So if apple push through the $96 level per share, then it will be another big problem. He also projected that the stock might fall at $81 this year.
“If we break that $81 level, then we have real problems and that paints a level of $55.94,” Gordon said. That will be the prospective 43 percent from its current price under $99 per share.