AAPL under ascending megaphone. Price action has been bullish since December '18 but I suspect a strong drop from here and very soon. I believe the market is in a corrective wave and will not bottom until Mid 2020 from this point. Price may drop fast the next two weeks and then rally through September but that will most likely be just another wave before a much larger drop going into October-November. Apple has had its run and it will eventually have another but you don't want to be holding the bag up here in my opinion.
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large bear divergence on daily chart:
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eye on this possible 3x bear divergence (daily candles). Price continuing to "slide UP" under this ascending pattern is not really a good sign or bullish signal. I venture to say that it's an accumulating bear. I've waited patiently and now looking to hold some longer range puts.
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I have increased my longer term bearish position. I am staggering my sell targets sub 165 in $10 increments(165, 155, 145).
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aapl - renko on daily ATR blocks- this does look like a corrective wave where the move down to C is not a stretch of the imagination:
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I don't believe we'll take out prev mid 2018 highs. I'm still under the belief this is a corrective wave and the next leg is a down leg.
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Well well well, aapl keeps surprising me. It's clearly taken our prev highs but I still believe it'll correct along with everything else. Watch bearish divergence pressure:
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Always watch the weekly charts closely before getting too bearish or bullish. I'm usually right about price movements but I'm always early..