- Apple weekly chart shows price hitting 644 levels. This level has acted as resistance before.
- Price also testing 78.6% Around the same level as shown in 2nd chart.
- Daily chart shows negative divergence, Price yet to confirm weakness though.
My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
May 31, 2014
APPLE Weekend update
SBI Weekend update
- SBI Weekly chart shows a Dark cloud cover pattern. Opening of the current week's candle is perfect for the pattern, Closing could have been a little bit lower than the current levels to make the pattern more perfect and effective.
- Bearish pattern needs confirmation, The stock too is retesting a previous resistance zone which may act as support. Closing below 2470 levels will add strength for the pattern.
- Fib levels and 20 Day SMA are immediate support levels. More weakness if price does not hold above them.
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