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Apple Inc. (NASDAQ:AAPL), Ford Motor (NYSE:F), and NIO Inc. (NYSE:NIO) are at critical inflection points and all three may be about to sell-off.
Apple is approaching the important $137 level. This level has been resistance each time the stock has reached it since September.
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Stocks frequently trend lower after they hit resistance levels.
This is what happened with Apple in September, December and February. Shareholders need to watch how the stock acts as it gets closer to this level as shares could head lower once again.
See also: How to Buy Ford Stock
Ford is testing support at the important $12 level. The stock rebounded off of this level two times in March, but if this support breaks, the stock could make a big move lower.
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Support is a large concentration of buyers who are gathered around the same price limit. In this case, it’s $12.
If the support breaks, meaning if the stock trades lower than $12, it will show this large group of buyers is gone. They have canceled or finished their orders.
Sellers will have to accept lower prices for their shares, which could force the stock into a downtrend.
NIO is testing support around the $35 level and here’s a good chance it breaks it.
The stock has formed a descending triangle pattern, a pattern that shows two dynamics.
- Sellers have become more aggressive. They've been willing to accept lower prices as time passes.
- A large group of buyers has been passive. They have held their ground at $35 and they aren't willing to pay higher prices.
This combination of passive buyers and aggressive sellers could result in the stock moving lower.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.