The chart below takes a look at Apple (NASDAQ:AAPL), which could be creating a bullish reversal pattern (wick) at dual support. If this is true and it pushes higher, it could help the Nasdaq Composite index avoid a double-top pattern.
Apple looks to be testing dual support at (1) above. The week is not complete, so far though, Apple looks to be creating a bullish wick (reversal pattern) at dual support.
The Power of the Pattern shared months ago (when it was trading at $108) that Apple could push up to the $150 level, where it would then face dual long-term resistance levels. (see $150 post here)
Could Apple's next move influence the Nasdaq?
This chart shows that the Nasdaq is back at its 2000 highs, at the top of a rising wedge pattern. Is a “Double Top” in the making or a big-time breakout in the cards?
What Apple does at this dual support test could have a big influence over this important price point for tech stocks.
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