Last week the Power of the Pattern shared that most “FAANG stocks were testing the top of rising channels/breakout levels.”
The one exception to that was Apple.
Below looks at Apple over the past couple of years-
CLICK ON CHART TO ENLARGE
The trend of Apple remains up. Apple hit the top of a short-term channel three weeks ago where a small reversal pattern took place.
Apple’s weakness the past three weeks has it testing rising support this week at (2).
What Apple does with this support test could have a big impact on it, FAANG stocks and the Dow!