October 1, 2010

APPLE hour chart with the cloud

  • Apple is trading near an important support area for hour chart.
  • If the stock closes below 281, Price in hour chart will fall below the ichimoku cloud. This will result in a trend reversal for the hour chart.
  • So bull will try hard to defend 281. If a rally happens from this level it might get resisted near the blue line drawn above or between 285 and 286. Breakout above 286 will be positive for the stock.
  • The risk for the bulls is a close below 281.

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