Thursday, October 4, 2012

AAPL Update

AAPL looks like it's hitting some near term resistance, I don't think it will have much effect on the short term trend of symmetry though.

 When I wrote about AAPL symmetry in the context of a H&S top, the area is somewhere around $680 -$690 for a second shoulder, but although it's less common, we do have to keep in mind other possibilities such as a Broadening top.

As for today's trade in AAPL...

There's some resistance here at the 10-day ma.

On the intraday charts it looks like this....

 1 min AAPL

 2 min

 3 min

 However the 5 min is still in line

 When considering the most probable outcome, I think the second right shoulder is still high as this 15 min chart's leading positive divergence shows.

Longer term considering the probability of a H&S -like top, the 4 hour chart's leading negative divergence in the area seems to tell the final chapter.

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