I'm afraid to say it but apple looks like its under distribution. Starting at the 134 in the background, clearly this is a minor buying climax. Automatic reaction to 122 appears as support and is tested a second time before mtk is rallied back to 134 with a massive Upthrust which facilitates selling on the way up and the way down. Now the next support and resistance come in more compressed next to each other. Mtk more under control.
I'd like to break of 126 and then break of 122. Getting under these numbers would signify a real downtrend in apple stock and confirm distribution above. I'd be a little surprised if apply where to begin a significant downtrend in a bull market like this.
Short to 122 (expect lower if real downtrend begins), risky stop @ 128.65, more appropriate stop @ 130.39
I'd like to break of 126 and then break of 122. Getting under these numbers would signify a real downtrend in apple stock and confirm distribution above. I'd be a little surprised if apply where to begin a significant downtrend in a bull market like this.
Short to 122 (expect lower if real downtrend begins), risky stop @ 128.65, more appropriate stop @ 130.39