Apple’s on multi- decade support right NOW…next multi-decade support is $200!
Last August the Power of the pattern reflected in the chart below, Apple was breaking to new 2012 highs, yet it was up against a 30-year resistance line (see post here)
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That 30-year resistance line stopped Apple on a dime. Now Apple is facing a key parallel channel line at (3) in the chart below!
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Apple is on a multi-decade parallel support line right now at (3)!
Apple NEEDS to hold at this parallel support line because the next parallel long-term support line doesn't come into play until $200 per share, which is the mid-range of the 30-year channel.
Does it seem hard to believe Apple could test that lower line? I suspect so. Looking back did is surprise you that the 30-year resistance line stopped Apple in its tracks?
Stay tuned as Apple really needs to hold at this line in the sand!!!
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Fascinating!