January 27, 2013

  • First chart shows apple monthly time frame with fibonacci levels. Price has broken below 23.6% and 38.2% and is Moving towards the 50% Fib level at 391 levels.
  • 2nd chart shows price continues to break below crucial moving averages like 20, 50 and 100 Week SMA. Next target is the crucial 200 Week SMA which is near 350 levels.
  • Last chart shows monthly candle violating 20 Month SMA. Month closing below Middle Bollinger band will further strengthen bears of APPLE.


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"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore