AAPL Apple Daily Chart Overbot Rising Wedge Negative Divergence Parabolic Top Upper Bollinger Bands

AAPL is the markets and this wild parabolic move is now ending, but parabolic moves are unpredictable how far they can spike, but they always come back down the same way. Apple pulling back will seriously impact markets since it is Atlas holding up the broad indexes. The gap up move occurred at 444 creating the island that price now sits on above. Thus, when price comes down, an island reversal would be in play. The 525-550 top projection held with price reversing from 550-ish for that red rising wedge and negative divergence. The MACD line (green line) wanted to see another price high and that is where we are at now.

The blue lines show firm negative divergence again, as well as overbot conditions, which forecasts a spank down and a reversal on tap now. The upper BB was pierced which typically leads to a pull back. The upper BB was violated after the earnings release in mid-Jnauary (teal circle) and did not pull back subsequently but that was due to the news change and that had to be priced into the stock. The spank down is so close you can taste it, although the last two days it feels like waiting for Godot. The gaps left behind will all require filling, even the gaps from 360 to current levels.

Projection is a smack down for AAPL now, perhaps bounce off the 20-day MA (middle BB) which would be short-lived, then further downside. The move down, which should begin now, will have a strong negative impact on equities markets. This forecast is obviously against market consensus where the Koolaid flows; 90 plus percent of money managers own this stock and 90 plus percent of analysts say it will go to the moon with projections of 700 and higher. A price of 620 is on the table, however, after the spank down occurs; the chart will need reassessed in the days ahead. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your financial advisor before making any investment decision.