Technical Take: Apple breaks out, potential bullish pattern - InvestingChannel

Technical Take: Apple breaks out, potential bullish pattern

On the weekly chart there is the potential for a large-scale bullish inverted head and shoulders pattern to form and possibly trigger some time this week. The $185.50 area would be the neckline for the pattern. A move above that level would trigger the pattern, which would have upside potential to the $210-$215 area over time. The point at which the pattern would be void is at the breakout level at the $175 area which took out the range highs for the period from early February to present.