January 19, 2013

APPLE Bearish Crosses

  • Apple daily chart shows price trending down below 20 and 50 Day SMA.
  • Second chart shows the Death cross which will stay effective as long as price stays below 50 Day SMA. Price closing above 50 SMA may give hope for bulls of a bigger pullback.
  • Weekly chart also shows a bearish cross with 20 and 50 Week SMA. Only hope for bulls now is the weekly pin bar candle that is staying above 100 Week SMA. Price if starts to trade below 100 Week SMA will strengthen bears further.

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