11.01.2022 09:00 AM
Apple shortly hit a market cap of USD 3 trillion, which is more than all stocks together in the FTSE 100 or the French CAC 40 or the DAX 40 each of these indices has a value below USD 3 trillion. We can't say if that valuation is extreme, but what we can say something about is the technical view for Apple and it should be clear that and ending diagonal or wedge is playing out here. This formation is seen at the end of a large rally or decline. In the case of Apple, it's after a large rally and this formation call for a decline to the start of the formation which is seen at 103.11 within half the time it took to build the ending diagonal. As it took 16 months to build the ending diagonal, it should take less than 8 months to bring Apple down to 103.11 once the top is confirm, which will be upon a break below support at 169.12.
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