Mar 242015
 
AAPL daily March 24th

AAPL daily March 24th

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 highlighted on this chart for quite some time and so far, AAPL has indeed begun drifting lower since the last RSI overbought cluster, with the stock in a fairly steady short-term downtrend since the Feb 24th highs.

Inline with my expectation for further downside in the QQQ would be additional downside in AAPL with a minimum target of the bottom of the blue ascending price channel & a preferred target at this time of the 115.25 area.

I am not adding AAPL as an official trade idea but more so wanted to share my thoughts on where the stock might be headed as AAPL is the largest component of the QQQ and the fact that the near-term technical outlook on AAPL meshes with my near-term take on the Q's.

Click here to view the live, annotated daily chart of AAPL

 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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