The big news for Apple Inc. (AAPL) this week was a huge antitrust case from the US government. While the outcome of that particular situation is uncertain, one reality that has been quite certain is that AAPL is no longer pounding higher like its “magnificent” brethren. Today we’ll show how the technical picture for Apple has gone from bullish to neutral to bearish, why multiple timeframes can be super valuable in separating the signal from the noise, and how we can identify potential downside objectives for stocks in breakdown mode. I was taught, “When in doubt, zoom out.” So, with that in mind, let’s start with the weekly chart. Three things stand out as I review the last seven years of Apple’s price history. First, the long-term story is quite constructive, with the stock going from below $40 to almost $200 in less than five years. The 150-week moving average, one of my favorite…
