Apple is developing a new potential bearish pattern, levels to watch

RELATED QUOTES

SymbolPriceChange
AAPL445.153.01

The stock has had quite a few technical patterns, both bullish and bearish, that have failed to work in the last several weeks. Today a new pattern is becoming evident on the daily chart, which is a potential descending triangle. This type of pattern forms when price fails to make upside moves of any size, but also contains the downside. In a way it is both negative momentum with basing characteristics. The pattern is only a potential one and would not become active unless the low of the patter at $501 was broken on a sustained basis on the downside. This would mean the pattern wouldn't be reliable unless the psychologically important $500 area failed. Downside for the pattern, if it ever triggers and completes, could be to the $450 to $440 area.

  •  
    Recent Quotes
    Symbol Price Change % ChgChart 
    Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
    You need to enable your browser cookies to view your most recent quotes.
  • Recent Quotes News

    •  
      Sign-in to view quotes in your portfolios.

    Trading Center

    Yahoo! Finance on Facebook

    POLL

    In the wake of the Washington state bridge collapse, would you support a tax hike for infrastructure projects?

    Loading...
    Poll Choice Options