May 4, 2013

APPLE Weekend update

  • Resistance levels for next week are the 20 Week SMA and the resistance line shown in daily chart. Sustaining above these levels will help apple bulls to extend the current up move.
  • Apple weekly MACD is showing a Buy signal with Weekly candle closing above 5 Week High EMA. This bullish combination may favor apple bulls to extend the up move.

Linkedin Corporation Weekend update

  • Linkedin closed below 50 Day SMA with High Volume.
  • Price is testing a crucial support line. Trading below this line on closing basis may target the GAP area shown in daily chart between 126 - 140 level.
  • Weekly chart is moving towards a MACD sell signal which will favor bears of LNKD in the short term.

S&P 500 Weekend update

  • Charts shows the extension of the up trend.
  • Weekly chart has moved out of the range and thus negated the possibility of a sell signal.
  • Last chart shows price in the bullish part of the channel nearing the channel resistance line. 

APPLE support and resistance levels

  • Apple up trend in smaller time frame will remain safe as long as price sustains above the levels shown in chart 2 and 3.
  • Daily time frame is approaching a possible resistance line for the line to work price should fall below the above mentioned levels.
  • Higher time frames like week and month are suggesting a short term bottom so weakness in smaller time frames may not last long.