AAPL Apple Overbot Rising Wedge Negative Divergence Spank Down Occurs as Forecasted

Simply a beautiful smack down from the red rising wedge, overbot conditions and negative divergence. This chart was posted six days ago and highlighted the exact top with the red wedge. The blue overbot conditions, rising wedge and negative divergence created the first smack down that was previously highlighted as it occurred.  Price fell thru the 20-day MA at 613, bearish.  The stochastics losing the 50% level is bearish. Watch to see if the RSI 50% level fails.

She's rolling over now but watch for a recovery in price to create a right shoulder for an H&S pattern, shown by the pink lines.  Head at 645, neckline at 600, so a downside target for the H&S is 550-ish which is horizontal support. The ramifications of Apple falling are serious. Apple is the markets.  AAPL selling off results in the tech sector selling off  and enables the tech weakness to drag the broad markets lower. 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.