May 18, 2013

APPLE Weekend update

  • Daily chart is shown with possible bullish opportunities But Hour and Weekly charts continues to look bearish.
  • Price in hour chart if starts to trade above 50 Hour SMA will tilt the momentum in favor of bulls. If price holds above 418 next week then Bulls may form the right shoulder of an Inverted head and shoulders pattern shown in daily time frame. 
  • If price breaks 418 on daily closing basis then price may test 400 levels again.

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