Apple Inc. (AAPL) has made a double-top pattern… in fact, almost a triple-top over the last month.
The MACD indicator looked as if it had an opportunity to go bullish, but it didn’t and remains bearish.
I think we still have a week or two of bearish action in the MACD for the market to unwind itself.
Right now, Apple seems to be stuck in a channel, between $155/$157 and $147.
The sideways trend for AAPL will likely continue for the next few weeks.
I’d suggest caution, unless you’re shorted or hedged… and keep your eyes on those levels.
Have a good week!
Micha
