Monday, March 18, 2013

AAPL Charts

Starting from long (bigger picture) to short (more immediate trade)...

 AAPL 2 hour long term chart showing strong distribution at the September top, we finally have a base, but it doesn't look fully developed in my view and from other charts, perhaps another bottom to make a "W" shape or perhaps a pullback to fill the gap around $434-$436.

 The 60 min chart is leading positive too so this looks interesting, I personally don't want to chase AAPL, especially with the short term charts looking like a pullback is coming, but perhaps after a pullback if the charts are still strong, AAPL may be a good long for a bit.

 Note at 30 min the divergence is sequentially getting smaller and smaller

 At 15 min AAPL is simply in line, it's not even positive anymore.

 The 10 min chart shows a positive accumulation base area and a move from there, although AAPL charts have been very spotty, this is the first time thy are clearing up, however the move out of this base looks like it's being sold or having profits taken, I'm guessing to form a larger base.

 Now from the intraday 1 min to meet the 5 min chart as this is the most recent trade and migration of any new divergences. The 1 min is leading negative now after this parabolic move.


 We look for the divergence to migrate to longer charts, the 2 min is relative negative

 As is the 3 min

And meeting the 10 min above, the 5 min is lading negative.

This tells me the probabilities are for a move to the downside, from there we'll have to see what develops, but I wouldn't make this a larger short, more speculative because of the longer term charts and the probability of some sort of base that still has gas in it or will be fueling up again.

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