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Technical Analysis

APPLE - Major Top in Place

by Antonis Benis, on Feb 23, 2021 3:59:25 PM

Apple stock has completed very bearish, long term Demark patterns. Yearly and quarterly Combo 13s sell countdowns; monthly, weekly and daily sequential 9 sell setups at the same time (see charts 1,2,3,4).

Copy of HKCM ABO 2020


APPLE y


APPLE q


APPLE m


APPLE daily 3


The Gann resistance level is at $139; the stock traded above resistance for 3 days before reserving hard to the downside, failed breakout (see chart 5, monthly).

APPLE m Gann

Apple will register a daily sequential 9 buy setup today, support at around $122; a rebound is possible that should last 1-4 trading days.


Conclusion

Apple has topped, this is a major one. Expect a 30+% drop from the highs.


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Topic:Trading SignalsActive TradingGann AngleUS Stock MarketDaily Trading Update
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