palmer

Pullback and extension pattern for AAPL

NASDAQ:AAPL   APPLE INC
858 3 10
On Apple's daily chart we can see a pattern developing. Apple             reached a high on September 2nd, then had a pullback that lasted exactly 44 days before skyrocketing 25%. When the 25% bull run was over, Apple             again pulled back for 49 days (to the channel support tendline). After the 49 day pullback, Apple             again skyrocketed 25%. In the current period, Apple             is 31 days into what could be a 44-49 day pullback. If this theory is correct, the green oval represents an area where Apple's pullback could be complete, and another bull leg could be initiated.

The buy zone conveniently lies right on top of strong support.

This is my first published idea. Thought you guys might be interested.
Thanks -- good analysis/observation.
+1 Reply
MATASII.com PRO
2 years ago
Long Term Consideration - supports your thoughts for another potential "bull leg".
Apple On Track
+1 Reply
ictgill
2 years ago
Excellent thoughts. I put in a very similar analysis using a flag pattern that has been repeating for over a year now. I believe we will see another surge in price approximately around the 3rd week of April (1 weeks before earnings are released) followed by a continuation of the pattern.
+1 Reply
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