AAPL - At Resistance?

This chart is of AAPL Monthly for the past 5 yrs. This could also partially mirror a part of how the S&P has behaved, though, in a different timeframe. I can almost see a "M" formation, but we are missing the right hand part of the "M".

We are just above the all time highs right now. The candle patterns on this are basically a stout Hanging Man, a Hang Man, a fat Shooting Star, and a Tombstone. These are all reversal patterns at Resistance.

As we look at volume, there is a slight downtrend in the bullish volume. MACD, however, is actually gaining strength, so this indicator is not confirming that the BULL plays are over. RSI could possibly go higher, but seems to be leveling off. Of course, this month isn't finished, so we don't know yet.

But, one thing for sure, there is less volume traded during this bullish run-up than the prior on before '08.


This is AAPL's Daily chart over the past 6 months. With RSI and price action, in several places (I don't have them marked on the chart) there is bearish divergence. We are at the all time highs and have overshot them. But, we do not seem to be moving up strongly past that.

There were 3 main attempts to exceed the all time highs and each rally failed, however, this is the first real rally that came that they were able to push more than a few dollars past. Bullish volume is a bit stronger here than in Nov'09.

But, MACD shows bullishness weakening. There is more bearish volume than bullish, we are at resistance. If I were trading this stock, it would be just quick and small profits daytrading while I let the stock decide which direction it wants to go.

AAPL has some great products and people I know who have AAPL products seem to enjoy them a great deal. Will they want to buy this stock when it's in the $200+ range?
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