Friday, December 14, 2012

AAPL- Retest of Nov. Lows

AAPL is about to retest November lows at $505.75.  The micro measured move within the larger pattern has a target of $500.  If we make a slightly lower low with positive divergence of the RSI, we could get the much awaited bounce back to the ambush zone at $605.


chin said...

Good morning Jamie,

Pre-market action on AAPL is not good at all. Stock is down 2.5%

AAPL has gone past the $500 mark now.

$475 could be the line of support at 10 wma

Jamie said...

Good morning Chin,

AAPL trying to hold Friday's trading hours low now that the market has opened.

If AAPL can bounce here, the Christmas rally will get going.

Jamie said...

AAPL not holding.

chin said...

But isn't 500 your low for the day ? Pre-market was 497 something.. We will visit that definitely, I feel.

How is the RSI looking though.

Jamie said...

The RSI is currently at 30.75 which is positive. I have the low of the day 501.23 (trading hours only), which very close to my micro measured move target of 500.75.

chin said...

christmas rally time ?

chin said...

Excellent call on the RSI. So far so good. Could be an island reversal on a gap up tomorrow ?

Jamie said...

Thx Chin,

We did gap up this morning, nice prediction. Gap filled.