May 11, 2013

APPLE Chart analysis

  • Bullish MACD Cross of Weekly chart is not getting support from price. Price failed to close convincingly above 20 Week SMA.
  • Weekly candle managed to stay above 5 Week High EMA But the candle itself is showing lost momentum of the past two weeks.
  • Daily chart shows price struggling at 100 Day SMA. A fall towards 50 Day SMA may trigger a larger fall in Apple. 
  • Only hope here for apple bulls is the bullish looking Weekly MACD which needs price support in the coming week.

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