- BAC Daily chart shows price testing crucial support levels.
- Price closing below the Trend line or 100 Day SMA will extend gains for BAC Bears.
- APPLE INSIDE DAY FORMATION
April 17, 2013
- Apple daily chart shows a range from 419 - 437.
- Daily chart also shows a possible bearish head and shoulders pattern with neck line at 419 levels.
- Yesterday candlestick formation shows an inside day which may increase volatility above 427 or below 419. Above 427 price may head towards the range top or 20 day sma. Below 419 price may move towards 400 levels.
- S&P 500 ANALYSIS AFTER CLOSING BELL
- Yesterday's fall got support near 50 Day SMA and price closed back above 20 Day SMA.
- Channel shows price getting support at the bearish part of the channel.
- Last chart shows the weekly chart with RSI. Overbought RSI is yet to fall below 70% line. Trend line break on weekly closing basis will confirm the sell signal.
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