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AAPL Chart Talk
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See SMA-100 on 2H chart….
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Huh? Really?
That depends on how AAPL ends up.
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The Summer of AAPL is here. Enjoy it (responsibly) while it lasts.
AFB Night Owl Team™
Thanks, Steve. -
Dearest iPad,
I know I probably could’ve made like $5000 from $1000 day-trading the AAPL seismograph today, but…well…I think your call might have to change based on AAPL’s fairly powerful close.
I know, I know…
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The Summer of AAPL is here. Enjoy it (responsibly) while it lasts.
AFB Night Owl Team™
Thanks, Steve. -
rickag, okay, here’s my Two-Hour Chart. I do love this timeframe because it’s a nice in-between snapshot ... between daily and the shorter intraday timeframes. And one very important thing DOES jump out at me…as you noted…we pierced the lower BB on the 2H. When AAPL falls outside the lower BB on the 2H chart, it doesn’t stay there for long. We shouldn’t be far from an oversold bounce…
See that pink line? SMA-100 on the 2H. Wouldn’t surprise me… (652.62)
I said: SEE THAT PINK LINE ON THE 2H chart!!! The line moves, but that’s the SMA I said to watch!!!!
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TAKE COVER!!!
Sorry I misread you, Ms. iPad. But I had 656 targeted for my own reasons too.
The question is, can you just see the 656 power-bounce as pure price action, or is something skewing the technicals?
Either way, I think we get to the same conclusion. AAPL’s showing some signs of life.
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The Summer of AAPL is here. Enjoy it (responsibly) while it lasts.
AFB Night Owl Team™
Thanks, Steve. -
Phoebear611
- [ Ignore ]
So what can be drawn from today’s closing price? What do the charts say IF it closes strong like this, THEN what will probably happen?
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Keep Calm and Carry On
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Because Prof. iPad grades on a curve (I’ll never even finish technicals elementary school), I’ll go out on a limb and say we keep watching for the strength of the bounce from 656. I was watching that level too, but for different reasons (Fib retrace, rather than SMA/support)
Going into the Twilight Zone between technicals, story, fundamentals, momo, whatever, the shorts got the wrong end of the whipsaw and I’m not sure they know what to do. Always good to throw the other side off their gameplan…could mean there’s no “power” behind the selling, like Redler likes to put it.
Signature
The Summer of AAPL is here. Enjoy it (responsibly) while it lasts.
AFB Night Owl Team™
Thanks, Steve. -
Fabulous close. Now, we need to see some follow-through! Looks very promising, BUT I don’t want to be fooled again by what “appeared” a capitulation bottom after we dropped from 644 to 578 the first time. Bulls CANNOT lose SMA-20 on the daily again, currently at 663.96.
IF we lose SMA-20 on the daily again, THEN we’re likely looking at another leg down, target SMA-50. IF we stay above SMA-20, THEN we’re likely retesting the highs…and hopefully 700.
[ Edited: 12 September 2012 09:07 PM by lovemyipad ] -
Fabulous close. Now, we need to see some follow-through! Looks very promising, BUT I don’t want to be fooled again by what “appeared” a capitulation bottom after we dropped from 644 to 578 the first time. Bulls CANNOT lose SMA-20 on the daily again, currently at 663.96.
IF we lose SMA-20 on the daily again, THEN we’re likely looking at another leg down, target SMA-50. IF we stay above SMA-20, THEN we’re likely retesting the highs…and hopefully 700.
Thanks iPad.
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Well, 663ish is a safe distance away for now.
Signature
The Summer of AAPL is here. Enjoy it (responsibly) while it lasts.
AFB Night Owl Team™
Thanks, Steve. -
Well, 663ish is a safe distance away for now.
Indeed!!!
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How are the charts looking.
Seems kind of boring. Up, up, up.
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My man Jason Schwarz thinks there might be a push higher Monday, but then a nice pullback on profit taking. He thinks the “traditional” pre-sale run has already happened - following up on last week’s action when “sell the news” also came early - and that we will get a minor bounce on Monday’s pre-sales announcement, perhaps briefly surpassing $700. However, as soon as traders feel the upside has run out of gas, they will head for the exits.
Why did I put this on the AAPL Chart Talk page? I guess because the Intraday has been taken over by most reminiscing about how cheap they bought their initial AAPL shares.
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RG and others, since no one can properly view my posted charts at the moment:
TEMPORARY housing while renovations are completed around here…
aaplfinanceboard2 (dot) proboards (dot) com
