April 30, 2013

APPLE Chart update

  • Apple weekly candle is testing 5 Week High EMA. Price has failed to sustain above this level resulting in strong down trend. Now Weekly MACD is showing positive Divergence for divergence to work price must sustain above this level on weekly closing basis.
  • Up move will be tough to extend with the presence of resistance levels in daily chart like the 50 Day SMA and the Daily Ichimoku cloud.
  • Any Weakness near the daily cloud means the Divergence has to wait some more weeks to start performing.

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