As you can see, AAPL has been extremely predictable on the monthly chart dating back to December '07. The RSI is forming a tightening wedge and we are currently nearing the top. The last 3 times we have hit the resistance line of the wedge, AAPL has corrected at least 30%. I would expect another 30% correction imminent if we top out near the end of the month. It would take some incredible news to break this 13 year trend, but if we did close February above the resistance line, we may see some ridiculous FOMO.
This is not financial advice, do your own research. It will be interesting to see what happens here, best of luck trading!
This is not financial advice, do your own research. It will be interesting to see what happens here, best of luck trading!
Comment:
Dang, that actually played out quite nicely. Looking for more blood to come!