AAPL Daily Analysis 8/20/2013

BATS:AAPL   Apple Inc
184 0 0
6 day rally, longest rally since Feb 2012.

How can anyone not be bullish? We have had a 6 day rally, pushing stocks from $456-$507. Last time we had this sort of uninterrupted rally was back in Feb 2012 (8 day rally). A little pull back is healthy, as it allows more longs to jump in the wagon. We are still in the yellow (Zone 2) of the uptrend. Nothing to be worried about until we break down to Zone 1.

I do admit that the bearish engulfing pattern is bit concerning. We will have to watch it closely.

Long for now.
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