If Apple Breaks Out Of This Pattern It Will Destroy The Bears

Some stocks just have the ability to make or break the market. At this crucial moment, Apple is trying to do something that may stun the stock market. After moving sideways for quite a while, Apple is making same highs but higher lows.

Some may recognize this as an ascending triangle.

Since its a daily chart we do not know how long it will take to break out. But the stock is fast approaching an apex point. Therefore, it will either breakout or breakdown.

Since Apple is in an uptrend, the bias is towards a bullish break out. The rising 50 MA also gives us a reason to be bullish bias.

If Apple break out of this ascending triangle, the US stock market will explode even higher. All 3 major indexes, the S&P 500, the Dow Jones Industrial Average and the Nasdaq Composite Index will shoot up higher.

That's because Apple is a seriously big and important component of these 3 main indexes. It is also the world's biggest company by market cap. 

Apple's tentacles reaches far and wide around the world. With many company's bread and butter depending on it. Therefore, if Apple breaks out of the ascending triangle, many tech stocks around the world will also shoot higher.

And of course...

The bears will get destroyed when the market rises.

Charts with the Freestockcharts.com label are courtesy of Freestockcharts.com

Charts with the investing.com logo are courtesy of Investing.com powered by Trading View

  • If you like this article, consider starting the Stock Market Course. It is free and jam packed with great information for newbies.
  • Want to have updates on the financial markets? Join my Telegram Channel. Dstockmarket.com Channel.
  • Help support this page and press the Facebook Like button below. Thanks!

Recent Articles

  1. Dow Finally Makes A Bullish Cross, More Bulls To Come

    May 21, 18 08:12 AM

    After a very long time trading below the powerful 20 MA and 50 MA, the Dow Jones is now back in bull mode trading above the 20 MA and 50 MA. What's more is it is experiencing a bullish cross.

    Read More

  2. Technical Analysis Lessons From FLR

    Apr 27, 18 05:31 AM

    In this article we will examine why FLR went from a downtrend to the start of a new uptrend. We will also look at some chart patterns and how it affects the stock.

    Read More

  3. Technical Analysis Lessons From AMZN

    Apr 26, 18 06:19 AM

    If you are interested to know why AMZN went up so much, this lesson will show you why AMZN was able double its stock price.

    Read More

  4. Technical Analysis Of Maybank

    Apr 26, 18 05:04 AM

    The surge in foreign funds investing in finance stocks has lifted many Malaysian bank stocks higher. Maybank is now making a nice uptrend in the daily chart. Will it be able to overcome the old highs…

    Read More

  5. Technical Analysis Of Top Glove

    Apr 26, 18 04:46 AM

    A technical analysis view on Top Glove analyzing the trend and price action.

    Read More

New! Comments

Have your say about what you just read! Leave me a comment in the box below.