All of last week both AAPL and ENER were engaged in bull vs. bear warfare. In order for the bulls to win, both names have to recapture their short term moving averages. In order for the bears to win, they have to decisively break support. For AAPL a break of $70.25 and for ENER a break of $47.00. In the case of AAPL, the easy money for the bears will be from $70.00 to $62-63.00 and for ENER $47.00 to the support of the rising 50 period SMA around $41.00.
The bearish action for both names took place on relatively lower volume. If the bears takeover AAPL, it could be the start of a significant correction. In ENER's case, the bears will likely only cause a shallow pullback.
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