- QQQ 4 Hour chart shows price near range bottom.
- One hour chart shows price testing 200 Hour SMA.
- Fibonacci levels shows price near 38.2% Fib levels.
- Bears need a close below the range. Sustaining above 200 Hour SMA may give an up move towards the top of the range.
- APPLE SUPPORT LEVELS
December 14, 2012
- Apple monthly chart shows crucial lows made between 505 - 522 levels.
- Apple month chart with Bollinger Band shows price near Middle bollinger band or 20 Month SMA. Price not violating this level will favor bulls of Apple.
- Weekly chart shows the slopping support line and Oversold RSI. Bears need to break the support line on weekly closing basis for a possible target of 470. Week closing above the support line will save bulls from bigger falls.
- APPLE DEATH CROSS
- RIMM Sustaining above 50 Week SMA has entered the weekly cloud. For the down trend of the stock to reverse price must trade above the weekly cloud.
- Weekly chart has already reached overbought zone. Bulls need price to sustain above 50 Week SMA for the current up move to continue. If price does not loose momentum it could target either the 100 Week SMA or the 23.6% Fib level as shown in last chart.
- Weakness below 50 Week SMA.
- S&P 500 ANALYSIS AFTER CLOSE
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