On 10/10/12, at the time of the i-phone 5 release the Power of the Pattern reflected that Apple was up against a 30-year and 10-year resistance lines at the same time in the chart below and that “severe declines had taken place each time these lines were hit!“ (see post here)
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How would you define “severe declines?” Is a 60% decline severe?
The chart below reflects that each time Apple has hit these lines it has declined at least 60% in value and Apple was hitting both of them at (3)!
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Will Apple fall 60% again? I don’t know! Will it be different this time?
I do suggest that investors respect the Power of the Eiffel Tower pattern and its impact on very popular assets over the past 15 years! (see past Eiffel Patterns & impact here)
The reason I put the chart out last October was to alert investors to how important of a technical situation was taking shape in Apple and how nice of a price point it was to harvest gains in this great company!
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