vlad.adrian
Short

Apple ready for a reverseal?

BATS:AAPL   APPLE INC
442 6 3
It looks like Apple             is finishing the small rally, forming a daily shooting star , after reaching the head and shoulders target. The price went over the 38.2% fib drawn from the high last year, touched the big resistence* area, but retraced closing right at the fib line. Also, we can see in the rsi that the stock is oversold for the first time in the last two years. With all this factors in place, i think we can see a reverseal. A strong rally over the support zone will invalidate this setup.
Your analysis was right on the money! Technical analysis really demands a calm thinking while staying away from biased like or dislike toward a production company. What do you think next?
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thank you! honestly i don't know what to say, i preffer to sit and watch for now. probably a consolidation period. I will post another chart these days.
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Hit strong support at $465 forming a doji, next day makes a small move up. Position closed at 472$
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At this point we can only think of a correction- and a soft one. It is a strong uptrend- a rally over 52 days- started from a double bottom.. I am not sure about the H & S since the neckline is not in the right place, not to mention the target and also confused about the reversal support. Where is that exactly? A dangerous short
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vlad.adrian PRO sublimares2
You are right, i meant resistence, i changed it now. About the h&s, the right 's' should have been plotted a bit more to the right, cause it looks confusing, but about and neckline and target, i don't see what's wrong, probably you mean the inclination of the neckline. Anyway, I am a rookie and i welcome any criticism cause that is the only way to learn.
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You present a very compelling argument. The case for at least a temporary halt to the advance is strong. But I am not convinced that the stock presents a good short opportunity. Given the conviction that was evident in the speed and volume of the recent rally, I don't see the stock immediately fall back, without a catalyst. I think the overbought condition might resolve through a period of sideways trading, until the September 10 product announcements provide further direction.
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