Hello fellow traders. Thought i would share this idea for Apple. I'm seeing a very large, very clean rising wedge for this stock. recently, Apple has flipped a major resistance (top purple line) and made it support. This would ideally setup Apple to retest it's all time highs, but, the buyback after tapping this line has been pretty weak. The more this line gets tested, the higher chance it breaks through the bottom and heads towards the solid yellow line of our rising wedge. It should also be noted that volume looks very Bearish. which confluences with a major pullback coming. My ideal buyzone for Apple in the long-term would be anything in the $175-170 region, this chart shows solid resistance turned support at that region. Also, If you take a look at my weekly Apple Parabola idea linked below, you will see that this zone should offer nice support, and i would have no problem buying at that price.
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Comment:
Apple parabolic trend idea as mentioned above
