AAPL has traced a very impressive rally after the bearish setup we had in the weekly failed miserably. The current explosion sits right below the 253 period moving average, and also very near to a strong cluster of resistance where we have low volume resistance and the 200 period MA, which many people watch. If it flies past these levels, I'd expect it to hit my target on time or ahead of it. The timing for rally looks right to me, and might be a terrific fade once we arrive at destination. It's interesting to note that the current decline stopped dead at the 4th quarter of 2014's low. Keep close watch of the price action around the aforementioned resistance, I'll update the chart regularly.
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Cheers,
Ivan Labrie Time at Mode FX Analyst at Concord Bay dot com
I think this is a perfect spot over $122 to enter. I'm still waiting to pull the trigger to short. I'm looking for some relative weakness and loss of momentum too.
IvanLabrie
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I like these make or break situations we're having lately. Pretty clear once fundamentals are out.
themarketzone
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110$ was a support zone I monitored yesterday and now once it held, there's a chance we will see 120$ again before the next bearish move (bearish Gartley completion near 120$)
timwest
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This AAPL is a lot like INTC too.
IvanLabrie
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Slanted IHS...Yes.
I think it might cross the resistance, trend signal is there.
timwest
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Excellent call = 120 is a huge level of supply. Very well done.