November 10, 2012

APPLE Weekend update


  • Weekly Doji star has given the seventh bearish candle in a row.
  • Price has closed below 50 Week SMA.
  • Hope for bulls is to sustain above 50% Fib level and 522 level for a possible turnaround to happen. Weekly stochastic has reached oversold zone But price is yet to show any sign of turnaround yet. For bulls price should move back above 50 Week SMA for a bigger bounce to happen.
  • Below 522 Next target could be 493 which is the golden ratio shown in the second chart.
  • DOW JONES RISING WEDGE
-->

By at

3 comments:

  1. Sandeep KoppulaNovember 11, 2012 at 12:34 AM

    Hi San,

    In the last chart, the line should be renamed to 50 week SMA which is around 560 rather than 50 day SMA which is somewhere around 645.

    ReplyDelete
  2. SanNovember 11, 2012 at 7:53 AM

    Thanks Sandeep for noting the error. I made the changes
    Thanks again.

    ReplyDelete
  3. Sandeep KoppulaNovember 12, 2012 at 4:52 AM

    You are most welcome. Did u notice the relatively high volume in AAPL on Friday? Also, it closed just above the cloud.

    ReplyDelete

Subscribe to: Post Comments (Atom)