This is where we would buy AAPL

  • Posted by
  • 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.

blog comments powered by Disqus
High Chart Patterns Blog