AAPL Apple Daily Chart H&S

AAPL Apple daily chart shows an H&S in play, head at 364, neck line at 326. This yields a difference of 38, thus, 326-38=288; so a target for the H&S Pattern would be down at the 280-290 zone. In the near term, price is under the 20 MA that is under the 50 MA which is bearish action. Pattern of lower lows and lower highs is in progress adding to the bearish woes. On the iPad2 release day, during Steve Jobs last appearance, AAPL finished that day at 352; price is now 14 points below that level.

The projection is to test the neckline at 326 in the coming days. When that occurs watch the indicators, if the positive divergence stays in place then the neck line will serve as support. If, however, the indicators are weaker as compared to mid-March lows, then price will collapse thru the neck line and move down to test 300, as well as the H&S target at 280-290. This information is for educational and entertainment purposes only. Do not trade based on this information. Consult your financial advisor before making any investment decision.