Apple looking toppy

4 ก.พ. 2021

Apple is looking like it needs a larger scale correction. Reasons for justification:

1. Completion of a 5 wave uptrend without a significant 3 wave correction.
2. Massive bearish divergence on both the MACD and RSI
3. Apple's current high sits at a 600% extension from wave 1
4. Double top pattern

Watch for a break of the purple support line.

Breaks of MACD and RSI divergence lines will invalidate this idea.