Sunday, September 12, 2010

Apple Inc. (AAPL) - Tests Resistance


Over the past four months, Apple Inc. (AAPL) has been in a 50 dollar trading range from 230 -280. Right now this stock is testing resistance while the stochastics are in overbought territory. You'll notice over the past few months such overbought readings have coincided with down moves for Apple Inc. The average move down once the stochastics crossed lower has been around 30 dollars. If on Monday we see weakness in APPL, that should confirm a sell signal and a down move can be expected.

Apple Inc. (AAPL) closed on Friday 264.41 which was up .34 from Thursday's close.

1 comment:

Anonymous said...

Looks like it's breaking out even though it's technically overbought.

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