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Apple May Be Consolidating In A Bull Flag Pattern

By António CostaStock MarketsSep 25, 2016 02:22PM ET
www.investing.com/analysis/apple-may-be-consolidating-in-a-bull-flag-pattern-200155350
Apple May Be Consolidating In A Bull Flag Pattern
By António Costa   |  Sep 25, 2016 02:22PM ET
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Apple Inc. (NASDAQ:AAPL) has been consolidating its big run from 102.53 to 116.18 earlier this month in a bull-flag formation. This is a bullish trend continuation chart pattern, indicating the continuation of an existing bullish trend after a small pause. The 110 area seems to be a strong support, so as long as AAPL stays above that point there could be more upside ahead. If it does rally, I would look for it to at least rise back up to Nov 2015 highs around the $121 level. On the flipside, if it falls below the 110 level, then there could be some trouble for investors as the stock may then come down to $105 in short-term. But for now, technically the bullish case is intact.

Apple Daily Chart
Apple Daily Chart

Apple May Be Consolidating In A Bull Flag Pattern
 

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Apple May Be Consolidating In A Bull Flag Pattern

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Disclaimer: This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don\\\'t consider buying or selling any stock without conducting your own due diligence.
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