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andrew.berg
May 8, 2014 8:17 AM

AAPL 2nd day continuation 

Apple Inc.NASDAQ

Description

Apple (AAPL) gave us 2nd day continuation down move. Here is quote from yeasterday's morning review evernote.com/shard/s360/sh/bcf46c2b-a118-4dc1-aace-033c9ec06774/802333ed94118380e4f54aa6a56f554a: "Apple closed on low of the day. And I expect to see some follow through below $594.43.".
It was a bit slow but gave two good Short opportunities: on break down of previous low of tha day and then pullback close to that. It stalled in front of support from 5th of May and 200MA.

Today, my plan is to sell from resistance zone $593.50-$594.40 then I expect to see retest of support zone $586.36-$587.73 and potential break down as I expect another day but I will measure. If it will go through my resistance zone and hold there then I will switch my bias to upside.

Let the price tell us how to trade. I will use my levels to make adjustments.
Comments
andrew.berg
Close to selling zone, showing relative weakness vs QQQ. Short. Stop above previous high of the day
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