March 16, 2013

APPLE Weekend update

  • Apple closing outside a contraction pattern. Price has closed above 20 Day SMA. 
  • Price is entering the selling zone as explained in the last chart. After the bearish cross of 20 and 50 SMA the zone between 20 and 50 SMA continue to act as selling area. 
  • So the current rise may extend till 50 SMA were it may face selling pressure again.

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