September 11, 2013

  • Apple testing crucial support levels
  • FORD Trend update
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WEEKLY TIME FRAME

  • Ford four hour chart shows price testing the recent swing high of 17.66. Bears are hoping for a double top here But the trend in Higher time frames are clearly favoring bulls.
  • A Weekly close above 17.66 may target 18.97 levels in the short term.
  • APPLE Chart update
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  • Price managed to close above crucial moving averages.
  • First chart shows a potential resistance line.
  • Weekly chart shows price moving above 20 Week SMA. A weekly close above 20 Week SMA will extend bullishness.

  • Apple daily chart is in  a trading range.
  • Immediate support level at 486 and 23.6% Fib level. Below 23.6% price may test the 461-463 zone which is the 200 and 50 day SMA'S.  



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My Favourite Quote

"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