April 21, 2012

  • Day of Apple closed near 50 Day SMA. Price is yet to test the Daily Ichimoku cloud as seen in the 2nd chart.
  • Weekly chart shows a bearish candle with one of the highest volume in recent times.
  • Price has fallen from 644 to 570 levels and the Weekly MACD sell signal is yet to come. If bears get a sell signal then things will be bad for Apple Bulls. It's only a possible scenario and let 50 Day SMA or the Daily cloud save Apple bulls from a bigger fall.

  • Daily chart has closed below both 20 and 50 day SMA. But price remained inside the bearish flag. 
  • 2nd chart shows price consolidation above daily ichimoku Cloud. Price yet to test the cloud.
  • One hour chart shows 50 Hour SMA below 200 Hour SMA a potential bearish setup But price need to confirm by breaking the support levels mentioned in the chart.


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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore