Things like The bending rumors, the iOS 8 issues, the "Back to the Future" comparison with Samsung, and the lack of innovation are not creating a good impression on consumers, so the outlook probably will not be good.
$AAPL has been in an uptrend from $80 until $104. The channel is still valid. However it has had a hard time trying to break the All times high set at $103.74, barely breaking the previous record high at $100.72
Strictly speaking it has set a new high, but practically speaking it is still in a double top pattern, since it has not made an explosive move to the upside, but rather a consolidation around $101, creating a range that is shrinking as days go by.
Today it is forming a Bull Flag that is about to run out of space as it approaches the edge of the triangle, and when that happens either it will break to the upside in a continuation pattern or it will break down to Bear Territory. The triggering event will be a close below the 55 DMA and a cross of the 21DMA down the 55DMA. In the meantime it is just choppiness and inside weeks.
It is very likely it will go down because it is losing momentum and both MACD and Stoch are heading down. Meanwhile in the weekly chart it has made a LL-LH with two red candles after the All Time High. So not a good technical signal to go long. Breaking down will put the stock in a downtrend channel in the daily until it potentially will hit 92-95 by December, where the Santa Clause rally and the Lower Channel Support of the main trend may serve as a support to lift it up.
$AAPL has been in an uptrend from $80 until $104. The channel is still valid. However it has had a hard time trying to break the All times high set at $103.74, barely breaking the previous record high at $100.72
Strictly speaking it has set a new high, but practically speaking it is still in a double top pattern, since it has not made an explosive move to the upside, but rather a consolidation around $101, creating a range that is shrinking as days go by.
Today it is forming a Bull Flag that is about to run out of space as it approaches the edge of the triangle, and when that happens either it will break to the upside in a continuation pattern or it will break down to Bear Territory. The triggering event will be a close below the 55 DMA and a cross of the 21DMA down the 55DMA. In the meantime it is just choppiness and inside weeks.
It is very likely it will go down because it is losing momentum and both MACD and Stoch are heading down. Meanwhile in the weekly chart it has made a LL-LH with two red candles after the All Time High. So not a good technical signal to go long. Breaking down will put the stock in a downtrend channel in the daily until it potentially will hit 92-95 by December, where the Santa Clause rally and the Lower Channel Support of the main trend may serve as a support to lift it up.