February 26, 2011

APPLE Weekend update

  • First chart is the daily chart of apple with 20 day moving average. 
  • Dips below 20 day moving average has been marked. Dips has not lasted too long. 
  • The effort of bears to sustain price below this moving average seems to be failing again. If price closes above 20 day moving average we will see yet another up move.
  • Important levels for bulls to cross and close above is 348.50.
  • Hour chart is filling a GAP if price closes above 50 hour moving average after filling the GAP things will favor bulls. Getting resisted at 50 hour moving average after filling the GAP may give a short trade in favor of bears. 


  1. Dear San,

    For U S Market from charts it looks that if Dow shall fail to trade above 12150 then it shall likely to show 12000 again.Even it has to trade immediately above 12130 i.e.Friday close,for its upward targets,if any.Now when it has turned down from 12390 then 12225 & 12265 are immediate resistances for its upward journey,which are now channel resistances as per my limited observation.

    The last 3 big red candles were formed on 26,29,30 Nov.& then 6,7,10 Jan.this year.Both times the fall was limited up to 266 points & 166 points in 3 days respectively.This time it is 407 points.A greater one.So is it a sign of correction ahead?
    I am taking the reference of ADVFN INDIA site chart for this purpose.I have no idea about the real low & high because for Indian Nifty they consider & include 9 to 9.15 AM trading figures & data too,which we does not count for our charts & market analysis,but they have taken it in accounts.

    Your guidance/view please.

  2. @mynac

    Hi mynac

    I have done a post on Dow jones. HERE IS THE LINK

    Hope it helps you