AAPL – Apple Weekly Chart.

Is Apple forming a new base?

On the chart we see the tech giant finding support at the 21-week moving average (blue line). If this support holds we may be seeing the formation of an ascending triangle continuation pattern.

A break and close below the rising trendline would negate the pattern and most likely send Apple down to the 50-week moving average (red line on the chart).

AAPL-Apple-Weekly-Chart

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