AAPL forming a bearish ABCD pattern on the weekly timeframe - all indicators are overbought and are signaling a pullback. Volume is declining, and with doubts on AAPL's ability to innovate and their miss on earnings, the FOMO crowd looks to be drying up.
Keep in mind, Buffet came out and said he doubled his aapl position...3 months AFTER he actually did it. He doubled it in January of this year - up to now, that would have net him over 25% gains. The volume coming in the last few days hasn't been your big boy investors...it's all the retail FOMO crowd trying to cash in on what Buffet did 3 months ago.
I am bullish AAPL in the long term, but it's due for a pullback, and this ABCD patter fits perfectly.
Keep in mind, Buffet came out and said he doubled his aapl position...3 months AFTER he actually did it. He doubled it in January of this year - up to now, that would have net him over 25% gains. The volume coming in the last few days hasn't been your big boy investors...it's all the retail FOMO crowd trying to cash in on what Buffet did 3 months ago.
I am bullish AAPL in the long term, but it's due for a pullback, and this ABCD patter fits perfectly.