- Apple Week, Day and Hour time frames.
- Apple week chart shown with a resistance trend line. Every time apple hits this trend line and gives a sideways move with negative bias which is then followed by an upper breakout. For the positional bear gains are limited here.
- Daily chart is trading above 20 day moving average. There was a scare for the bulls recently when apple went close to its 50 day moving average. But stock has came back to close above 20 day moving average.
- Hour chart shows price breaking above an ascending triangle pattern which shows a possible up move. Breaking above 348 and sustaining above this level can give 360 and above as target for AAPL.
- CISCO TRYING TO CLOSE THE GAP
- Weekly chart of CNX-IT shows an ascending broadening wedge. This is a bearish reversal pattern. One can look to go short once the supporting trend line gets broken.
- Weekly chart is also showing an important trend line getting broken.
- Daily is trading below 50 day moving average.
- So its looking negative for leading IT stocks. It can change if price in daily chart tries to move above 50 day moving average again.
- GDX Gets a bounce from its 200 DMA.
- Weekly chart shows a spinning Top candle at the bottom of the trend which can give an up move for price.
- Main resistances for GDX is its 50 day moving average.
- 50% retrace level in weekly chart is also near the 50 day moving average So this level will be tough to break.
- Last chart shows weekly chart with 20 week moving average. A weekly close above this moving avera will favour the bulls. Getting resisted below 20 week moving average will attract selling.
- CISCO TRYING TO CLOSE THE GAP
