Apr 302015
 

Each white line (horizontal & uptrends) are support levels & potential downside targets for AAPL (as well as the red 200ema). Unless AAPL can regain the first minor uptrend line which it has broken below today, the odds favor a move down to the next support level(s) which come in around 120.40-122ish.

AAPL daily April 30th

AAPL daily April 30th

 

I've highlighted the only other instances of divergent highs over the last two years (other than the current one), both of which resulted in substantial corrections (~13.5% & ~8.25%). As of today's lows, AAPL has only fallen about 6.5% from it's all-high printed on Tuesday. The fact that Tuesday's new high also helped print the aforementioned bearish reversal candlestick, which has now been validated via follow-thru to the downside both yesterday & today, my take is that this correction will most likely match or exceed those prior corrections that followed the other divergent highs.

 April 30, 2015 11:59 am  Equity Market Analysis Tagged with:
Apr 282015
 

*+-Despite a blow-out quarter, AAPL (Apple Inc.) managed to accomplish two technical feats today that significantly increase the odds that my initial downside target, possible the second target  (on the daily chart from the Live Charts page) will be hit in the coming weeks.   [continue reading…]

 April 28, 2015 5:09 pm  Equity Market Analysis Tagged with:
Mar 242015
 

*+-This is the same daily chart of AAPL available through the Live Charts page. About a month ago, I had updated this chart to highlight the most recent overbought cluster & negative divergence on the RSI. The history of previous corrections in AAPL has been [continue reading…]

 March 24, 2015 2:44 pm  Equity Market Analysis Tagged with: ,
Sep 032014
 

*+-As a follow-up to last week’s AAPL Looking Toppy post, after today’s high volume sell-off that took AAPL down well over 4% earlier today, I’m seeing a few technical developments that have further strengthened the bearish technical outlook that was previously outlined for AAPL (Apple [continue reading…]

 September 3, 2014 1:53 pm  Equity Market Analysis Tagged with:
Aug 272014
 

*+-It will be interesting to see if AAPL (Apple Inc) wows the public next month with the widely expected larger iPhones, this oversized iPad or any other tricks it may have up its sleeve because the chart on AAPL is starting to look ripe for [continue reading…]

 August 27, 2014 10:23 am  Equity Market Analysis Tagged with:
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