Tuesday, January 15, 2013

Still No Nail in AAPL's Coffin

I really don't have much to say about this so I'll just let the charts do the talking. AAPL has been pressured down twice on news in the last 2 days, yesterday's I think was more important than today's, but there's an element of "Never Say Die" going on here, just enough to tickle some interest.
 Instead of downside confirmation this morning, AAPL's 1 min chart is in leading positive position. It doesn't go much beyond that as of now, except the 5 min chart which has stayed in a positive position for several days. If the 1 and 5 min positive charts can connect, AAPL can surprise.

AAPL's 5 min chart.

We will see if the 1 min divergence migrates through the 2 and 3 min charts, if so, then I may actually be interested in an AAPL long (add-to) trade.

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