August 4, 2016

Apple chart update

  • Apple weekly chart shows price moving above the falling resistance line. If price sustains above this line longer a bigger up move looks possible. If up move extends next resistance is seen near 112 levels.
  • Daily candles are trying to hold above 200 Day SMA. While last two attempts to stay above this crucial moving average Bulls are spending more time above 200 SMA this time. Having said that if price goes back and closes below 200 SMA bears will become active.

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