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.