Saturday, October 31, 2009

Apple Inc. (AAPL) chart analysis

Apple Inc. (AAPL) chart update ;
1) See recent update, posted a few days ago. Scenario is taking place.
2) Price level $185 is as mentioned before a "warning level".
3) Notice also the 50 days exp MA, right in that "support channel" (grey on chart).
Gut feeling ? We did not close at the bottom of friday's candle, we did close that gap. I am expecting price to "enter" that grey support channel then bounce up, leading Apple back in that $190 to $200 channel.
What will cause me to change my mind ? A huge sell off on monday (SP 500).

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