Apple short-term decline

367 0 2
Is Apple             stock starting to drift downward ? Candlstick analysis say yes, at least in the short-term:

The three Budha Top formation( an analogy of the western Head and Shoulders pattern) that started developing in February is a key warning sign of a waning mommentum. All three tops of the formation developed bearish patterns: the first was a Bearish Harami, the central signaled a top via a strong Bearish Engulfing formation and the third one concludes the pattern with a Tweezer Top.
Note that the pattern was retested unsuccesfully in July´s earnings report day as the price didn´t hold and dropped in a Window only to increase the significance of the medium-term top structure.
As the bears gapped below the 130 level, the short-term trend turned down to where we stand now.
From 12 August on it´s tried ( fruitless) to rebounce through what was supposed to be a Piercing Pattern that later ended in a variation of an Advance Block Pattern which is a bearish continuation construction.
The short target counted from the broken neck is approximately at the 110,00$ price level as the hight of the H&S pattern is roughly 12 points ( 122-12=110). Stoploss at 122.

Good trades!

Vasile Lupu
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out