AAPL



This is about a 2-3 yr view of AAPL in a weekly view. As you can see, we are in an overall downtrend for the past 2 yrs, though, it's in an upward cycle. Right now, the past 6 weeks, we are compressing in a rectangle pattern. The uptrend from March to June has been broken.

RSI shows a downtrend. MACD is weakening in the bullish strength. Volume is saying that perhaps the bullish run isn't over yet, but we are compressing.



From this view (6 months, Daily), we see a double top forming, where the right top is lower than the left top. This is more a bearish signal. If it breaks and closes below 133.50, this is more bearish. Also, we're right at the 50 EMA, so this is also a good pivot point. It could bounce here with less bullish strength to form a triple top, with this top being not as high as the 2nd top. The 200 EMA could be an area where it could drop to, if it becomes more bearish.
How would I play this?
BULLISH - This would probably be a short play from entry @ 139 and exit @ 142ish. Cost stop just above 133.50.
BEARISH - If closes below 133.50, I'd go bearish and have my profit target at the 200 EMA, which is around 122-123ish. Cost stop just above 133.50.
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