Stelian

AAPL - Hammer candlestick

Long
BATS:AAPL   Apple Inc
Today AAPL formed a Hammer candlestick , testing the upward trend line .
After the 3 weeks of indecision and downtrend, this is highly likely to be a key reversal with the 3 targets outlined on the graph. Each target is in a fading blue/green because it becomes less likely from today's perspective.

I personally love trading those. On the chart I have shown a small 7 months backtrack test, showing that a Hammer candlestick pattern formed at a bottom are usually marking a bottoming market and a uptrend.
The Hammer patterns that do not form on a bottom are to be ignored.

The blue light that goes from top to bottom is marking a key date which is 23 October, where apple will be holding an investors speech and reporting the releases of new products.

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