May 1, 2013

APPLE Chart update

  • Apple managed to close above 50 Day SMA with a bullish candle.
  • Price is testing daily ichimoku cloud which has acted as stiff resistance so far. But for now daily candle is yet to show any weakness.
  • If the cloud does not stop the bulls price is likely to extend this up move towards 100 Day SMA as its initial target.

1 comment:

  1. So, the Cloud gave the Bulls a rest and Bears a hope. Consolidation for a retest of 50 DSMA? or retest of the cloud resistance? or a close below 5 WEMA? Time will tell!