“The price pattern in Apple here is an ascending triangle setup, a bullish continuation pattern that signals more upside ahead,” Elmerraji writes. “The pattern is formed by a horizontal resistance level above shares — at $155 in Apple’s case — and up-trending support to the downside.”
“Basically, as Apple has bounced in between those two technically important price levels, shares have been getting squeezed closer and closer to a meaningful breakout through $155,” Elmerraji writes. “When that happens, we’ve got a buy signal.”
Read more and see the chart in the full article here.
MacDailyNews Take: It’s always nice to start out the day with some tea leaves.
Can Apple end their WWDC losing streak? – May 30, 2017
[Thanks to MacDailyNews Reader “Dan K.” for the heads up.]