AAPL Apple Weekly Chart; Overbot; Rising Wedge; Negative Divergence; Upper Band Violation; Price Extended

The AAPL weekly chart shows overbot stochastics and the RSI coming off of overbot conditions. The red rising wedge is bearish. The redl iens show negative divergence across all indicators (price prints a matching or higher high but the indicators slope downwards running out of gas).

Price has violated the upper band so a move to the middle band, the 20-week MA, at 165.87, and rising, at a minimum. Price is extended above the moving averages needing a mean reversion lower.

The expectation is for Apple to roll over on this weekly basis and drop for 2 to 4 weeks. AAPL will likely seek the 166-170 level for late this month or February. Use this weekly chart in conjunction with the AAPL monthly chart previously posted. The monthly wants to see another higher high in price, on the monthly basis, after a pull back occurs.

The pullback jives with the weekly chart above where conditions for Apple should be soft over the coming month. Then, since the monthly chart wants price to come up again, AAPL will probably float higher again say in February/March, and if the MACD line goes neggie d on the monthly chart, that print would be the multi-month and perhaps multi-year top tick, say in the February-May time frame. The top depends on when the MACD line goes neegi e on the monthly chart. The weekly chart would be agreeable to sustainable weakness on the weekly basis going forward.

Apple is likely in its glory days early this year, the view is spectacular, but the descent down the mountain then begins with the tech giant ending the year far lower than anyone ever considered possible. The charts will simply have to be monitored to see how the above thesis plays out.  This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.