Home > charting trendlines, investing, stock charts, technical analysis > AAPL struggling at resistance

AAPL struggling at resistance

AAPL which bounced off a support trend that has been in place since 2009, has rallied back to the underside of a major trend line resistance.  Over the last 20 years, AAPL has formed a rising wedge.  The stock broke to the upside of that wedge to start 2012 but has since fallen back within it – bouncing off a support trend line near the mid-point last month.

2012-12-04-AAPL-LT_CHARTS

A closer look shows that AAPL is currently facing resistance from both the 50 and 200 day Moving Average, along with the upper trend line of that rising wedge.

2012-12-04-AAPL-ST_CHARTS

It may be time to get on board with Chris Kimble’s suggestion that AAPL may be on the wrong side of a very big hill… errr, tower.

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