Could AAPL be headed much, much lower? Over the past 9 years it has certainly formed an interesting ascending wedge pattern.
Ascending wedges are typically considered a bearish/reversal pattern, so one might expect AAPL over the next 2 years or so to break significantly to the downside. The wedge we see on this weekly time frame could be consistent with an Elliott wave count as waves 2 and 4 are allowed to overlap in triangles (otherwise the wave count would be invalid).
Well, it's just an idea at this time based on the story the chart looks to be telling me. Will it play out? Guess we'll find out over the next few months/years.
Ascending wedges are typically considered a bearish/reversal pattern, so one might expect AAPL over the next 2 years or so to break significantly to the downside. The wedge we see on this weekly time frame could be consistent with an Elliott wave count as waves 2 and 4 are allowed to overlap in triangles (otherwise the wave count would be invalid).
Well, it's just an idea at this time based on the story the chart looks to be telling me. Will it play out? Guess we'll find out over the next few months/years.