Last week AAPL broke the micro short with a short squeeze. Yesterday we gapped up to previous resistance (yellow line). Now we are consolidating the move. I wouldn't be surprised if we fill yesterday's gap completely and bounce. There is a small gap around $569 which could provide resistance as AAPL makes its way to our target of $605.00
9 comments:
Thanks for the chart and updates on AAPL Jamie.
Great work and appreciate it always.
AAPL is filling the gap pre-market.
How does pre-market affect the technicals. I have seen the levels being revisited during regular trading in most cases.
Thanks again.
Chin,
I usually ignore pre-market price action unless it relates to earnings or news.
Today we have a bearish island reversal, unless we can fill the morning gap area.
I think it is over for AAPL. Caving in to the 532 key level again
The ext. long ambush was not defended by the bulls. Looks like AAPL forming a handle to BO and go straight to 450.
I bet my brother that AAPL would go to 600 before 450. Looks like he is going to win that bet.
I remember, you mentioned a handle earlier too. Where is it forming ? I do not understand this.
This could be the correction which you have been talking about..
Chin,
Small handles form at base of support/resistance just prior to BO.
Here is an example on CRM hourly timeframe
http://screencast.com/t/Uqlk75GO
If AAPL retests lows and we see this type of price action, we can anticipate BO.
Cont'd,
If AAPL forms a handle at base of $555, then we anticipate BO long.
AAPL is holding up above the 525 level. Call and put volume is huge around 530 on the weeklies.
Pinning could be in place ...
I realize this article is write from deep theme.
farmland investment funds
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