January 17, 2013

APPLE Busted Descending triangle

  • Weekly candle trying to bounce from 100 Week SMA.
  • GAP in daily chart and 20 SMA must be closed above for  a bigger up move to follow.
  • Last chart shows price trying to get back into the Descending triangle pattern. If price starts to trade inside the triangle there is a chance of a busted triangle pattern playing out, which should give good up move for bulls.

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