Pullback and extension pattern for AAPL
On Apple's daily chart we can see a pattern developing. Apple reached a high on September 2nd, then had a pullback that lasted exactly 44 days before skyrocketing 25%. When the 25% bull run was over, Apple again pulled back for 49 days (to the channel support tendline). After the 49 day pullback, Apple again skyrocketed 25%. In the current period, Apple is 31 days into what could be a 44-49 day pullback. If this theory is correct, the green oval represents an area where Apple's pullback could be complete, and another bull leg could be initiated.
The buy zone conveniently lies right on top of strong support.
This is my first published idea. Thought you guys might be interested.
The buy zone conveniently lies right on top of strong support.
This is my first published idea. Thought you guys might be interested.
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