Apple Inc. (AAPL) - Levels To Watch
For the past 15 trading days Apple Inc.(AAPL) has been relatively quiet as can be seen by the falling ATR (average true range) line in the lower panel. I'm a little concerned that AAPL has not participated in the recent market advance and is actually showing signs of relative weakness. It is however possible that the stock is just resting or consolidating before it makes its next move up.
Quite often when the daily range of a stock begins to contract it usually means a breakout is likely to occur once support or resistance is broken. Having said that, the levels I will be watching closely are 266 and 254.90. A close above 266 would be bullish for the stock while a close below 254.90 would be bearish.
Today Apple Inc. (AAPL) closed at 259.41 which was down 2.34 from Monday's close.
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2 comments:
Hello,, Vxx if you look at chart approaching oversold levels, if Rsi goes below 30% im a buyer for a trade. Any thoughts, manny here, take care.
Wow, AAPL broke down from your trading range.
Welcome back Kavin. I missed your blog while you were gone.
BTW, I amassed huge short positions between 8/4 and 8/5 only to be all stopped out completely on 8/9. WTF!
Now what? I'm afraid to chase bears at this point.
Wait for a green day and reenter shorts?
Jack
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