Monday, April 16, 2012

AAPL Bear Wedge Follow Up

AAPL chart link - last week I posted an update to AAPL which had clearly broken down from a text book bear flag pattern.
AAPL continues to break down hard from this bear wedge pattern and as you can see from this 60 min chart, the next big support area is the gap from April 14th highlighted in gold, let's see if that offers some initial support.
Watching AAPL is important because it's such a huge component of the Nasdaq 100, and thus it has a strong effect on the general market as well.

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