January 22, 2011

A Bearish looking APPLE

  • Apple has given a bearish looking weekly candle.
  • Long tail of the candle shows selling pressure at the top of the chart.
  • 2nd chart is the most important one the daily line chart shows a support zone between 316 - 318 Break of this level will trigger further selling.
  • Stock is close to 50 dma, break of this moving average will make the bears happy.

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