Key test for the Apple “Eiffel Tower Pattern” is at hand!

The "Power of the Pattern" reflected in the chart below that Apple could be forming the "Right Side of an Eiffel Tower" pattern on 10/26, when Apple was trading above $600 per share. (See Apple Eiffel tower post)

Eiffel tower patterns can be dangerous, because the right side of the tower can look like the left side!

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Below is an update to the Apple chart. Reflecting that Apple is testing a key "MONTHLY SUPPORT" line that if broken would increase the odds the an Eiffel is in play and of much lower prices in Apple!

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Do keep in mind this chart is of "Monthly Closing Prices!"  Odds aren't real high this pattern will take place, yet if it does, the impact will be high on Apple and the tech sector if this support line is taken out! (keep an eye on the GAGA Indicator)

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3 Comments

  1. Hey just wanted to say I’m a big fan of your website and I greatly appreciate the information/time/effort you put into it !

    I also particularly enjoy this post because like every spectacular growth story, it eventually comes to an end at some point, Apple included. There are countless charts that have a boom bust type of pattern, and I think this is pretty much it for Apple. Awesome call ! I think the stock eventually makes its way down to the low $400s minimum.

  2. Thanks Nick! The decline could frustrate a few!

  3. Great job Chris….apple now walks at around 541$ …it smells like the right shoulder of the Eiffel tower…NASDAQ is falling hard also…