AAPL Apple Daily Chart Rising Wedge Negative Divergence Gaps

Here is the daily chart update. To recap, the red circles in July wanted to see a higher high with price, and they received that in September. The blue lines show the negative divergence that caused the previous spank down.  Now we have been traveling higher again, price was in such a rush to move higher that many gaps were left behind (neon green) looking like swiss cheese; all of those gaps will require filling.

The red lines highlight the rising wedge currently playing out.  The weekly chart tries to give the bulls a sliver of hope with near term MACD strength, so does this daily chart with MACD higher than three weeks ago.  All indicators across the board, however, weekly and daily charts, say smack down time again.  Since earnings are released today, the charts indicate that no matter what the news is, price should pull back down. The gap fills and support levels underneath are 410, 400, 392, 387, 378, 364 and the all-important 320 level. Projection is a significant top continues to form for Apple, price continues to roll over, with lower prices expected for the weeks and months ahead. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or on any links attached to this site. Consult your financial advisor before making any investment decision.