#AAPL Threatening to break uptrend since start of year

18 Feb

Apple is looking rather precarious in my opinion. This will be the 4th touch of the upsloping trendling which has kept support intact and allowed Apple to gradually move higher since the beginning of 2023. We also seem to be morphing in the shape of a flat top triangle which are known notoriously to break down. Apple has also held above its 200dma (green ma) but now seems to be losing that as well. Should we see a convincing close below this $181 level, then there is a strong possibility that the stock could fall as low as $164 which is the target of the flat top triangle breaking down..