This is where we would buy AAPL
- Posted by admin
- on November 2nd, 2012
The weekly 50sma is now getting close enough to act as a magnet and we believe the first test will be a great risk/reward long:
Currently stands at 557 and last time $AAPL went under it was in April of 2009. The last test of the weekly 50sma (which held like a champ) was in June 2011. The weekly 50sma is 4% away– it might not get there, but it’s the first hard edge place that would get us involved. How about shorting into there? Not interested as it is already too oversold — we want a long at 557. Anything else right now doesn’t interest us.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
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The HCPG team has been trading professionally since 1997 and founded The High Chart Patterns Newsletter in 2006. More »
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