Apple Inc. (NASDAQ:AAPL) began forming a rising megaphone (pink on chart above) in late summer 2013. It’s now in the fifth and final wave of that rising megaphone. The 5th wave of a rising megaphone is always a bubble wave.
Then in June of this year, when AAPL reached the top of its pink rising megaphone, it started forming a rising megaphone top (purple on chart) to finish the move. It’s now in the 5th and final wave up within that rising megaphone top, again in a bubble wave within a larger bubble.
Now AAPL is forming a rising megaphone top (orange on chart below) at the top of that purple rising megaphone.
Orange Rising Megaphone is a Topping Pattern at the Top of Blue Megaphone and Also Top Chart’s Purple Rising Megaphone
AAPL is at the top of this new orange rising megaphone, again in a bubble wave within a bubble wave within a bubble wave. Because these formations never complete with an exact touch on the top, it’s got very high odds of breaking out the top of this little rising megaphone as well, and forming one last rising megaphone on top of that.
Once one of these rising megaphone patterns breaks out the bottom, the target is the navy blue horizontal line on the top chart. That is the VWAP of the initial pink rising megaphone.