FANG stocks have seen some increased selling pressure lately. The sell-offs for some of the tech titans in the FANG group seemed to have started at the end of last week.

Apple (AAPL) is not technically part of the FANG group. FANG stands for Facebook, Amazon, Netflix and Google. But while Apple (AAPL) may not be part of the group, its share price has also seen increased selling pressure the last few days just like the FANG stocks have seen.

Should the sell-off in these large-cap tech names cause concern? Or does the sell-off represent a possible opportunity to add to your position? The answer may be both, depending upon your risk appetite.

Let's review some of the details that point towards a continued uptrend for Apple's share price, even though it may be seeing a period of consolidation over the next few weeks.

We will then see if the results from Apple's (AAPL) stock chart review can be extrapolated across other companies based on similar chart patterns. But first, let's dive into Apple's charts.

Apple (AAPL) - Elliott Wave Analysis

This first chart is a 5 year weekly candlestick chart. I zoomed out a little further on this chart to look at Apple (AAPL) from an Elliott Wave perspective. Weekly charts are probably the best chart view to use when analyzing Elliott Waves.

The strong uptrend that Apple (AAPL) was in prior to its recent couple day sell-off leaves no doubt that its share price was in a Wave 3 of a Bullish Impulse wave pattern prior to its recent sell-off.

The recent sell-off appears to be signaling the end of the uptrend for Wave 3 and the beginning of a consolidation period for Wave 4. The gray shaded box is the best area to pick up shares during a Wave 4 pullback.

Any shares bought during the current Wave 4 consolidation period offer the opportunity to sell the shares at a new 52 week high.

To the right is an illustration of a Bullish Impulse wave pattern. Notice that Wave 4 does not enter into the price territory of Wave 1. Trendy Stock Charts members can learn more about the characteristics for Bullish Impulse wave patterns and each individual wave (waves 1-5) that make up the pattern by following the link to "Elliott Wave Personalities and Characteristics".

Now it is time review some shorter-term charts to develop an action plan of purchasing and then disposing of some AAPL shares. Or maybe it will be disposing of some more shares and then re-purchasing those shares. Most likely, the next course of action (buying or selling shares) will depend upon…..

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