Look at past three months of trading for AAPL. Do you notice something? AAPL has clearly made a double top near $205-$210 price range and has been consolidating since then, making a tight triangle pattern.
The lower trend line is at $190 range and the upper trend line is at $200 range. If AAPL breaks $190, then the bears will control this stock. Also, take a look at the volume in the same time period as the triangle pattern formed. There is definitely a decrease in volume. Coupled with double top pattern, triangle patter, and decrease in volume, we can predict AAPL’s next move, which is head much lower. Which direction do you think AAPL is headed?
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