AAPL 1 min accumulation areas in white. The negative divergences on the 1 min on AAPL, are similar to the market. Perhaps we'll see some profit taking into the close or a brief gap lower on the open tomorrow as they haven't developed into a pullback of any real significance.
The 5 min chart is bullish looking with accumulation at the break on the 13th I showed last nght. The 5 min chart is in a leading divergence so the 1 min negative divergences are contained and don't appear to be any real threat to the bounce, other then some transient weakness perhaps.
The 10 min chart (the longer the chart, the more important the signals) also shows the same accumulation on the dip below resistance I showed last night. Currently this is a strong leading positive divergence today suggesting more upside for AAPL.
Finally the 15 min chart with the same accumulation zone at the break of support on the 13th. The 15 min chart is also in a leading positive divergence which is very bullish for AAPL in the short term (over the next few days-week).
Here are the likely resistance zones, the gap around $340 will probably offer resistance and we may see a consolidation in the area, but I feel AAPL has more upside potential based on what we see right now. I'd guess it will make a run toward the $350 level, whether it can post a new regional high above $355 depends on the tone of the overall market, it would be an excellent opportunity to look at AAPL for a short position if that were to happen.
For now, it seems like AAPL and the market may experience some brief price weakness, but it shouldn't have too much trouble getting past that to post higher highs.
No comments:
Post a Comment