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AAPL Falling Wedge Still In Play?

|Includes: Apple Inc. (AAPL)

Apple has broken under significant price support in the $430 area. A case can be made that this warns of a much bigger drop to follow. There is also a case to be made that a "falling wedge" is still in place for AAPL. A falling wedge is usually a bullish price setup, if the stock can break to the upside of resistance. AAPL is closing in fast on the bottom support level for the wedge.

Disclosure: I am long AAPL.