APPLE CHART PATTERN SETS TARGET AT $340 $AAPL
The Apple stock chart has traced a head-and-shoulders topping pattern. This is a well-known and well-followed reversal pattern in traditional technical analysis .
The pattern sets Apple’s AAPL downside target at $340. A picture is worth a thousand words, the chart tells the story.
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The pattern
The pattern consists of a left shoulder, a head, and a right shoulder. In Apple, the left shoulder was formed when the price pulled back from about $650 to about $530. Please see “ Dangerous Apple chart pattern into iPhone 5 launch .”
The head was formed when the price moved above the peak of the left shoulder and subsequently fell down close to the bottom of the left shoulder.… Please click here or the title below to read more.