A lot got left holding a bag of apples.
Daily time frame analysis
APPL had been in an ascending wedge between Sept. ’20 thru Dec. ’21.
Price broke out of wedge to all time highs. We thought this was going to the moon.
Price double topped at 181.00 and was unable to continue upwards.
Price has gone into a minor downtrend and broke down back into the wedge it broke out of.
Price in bear flag. Cue to short.
Short trade
Entry: 159.90
Stop Loss: 165.56
Target: 150.67
Risk/Reward ratio 1.64