vlad.adrian
Short

Apple - Failing at the all time high

NASDAQ:AAPL   APPLE INC
256 2 6
Apple             is going to go down again, only question is by how much? I would say at least 10%, at least!!

Here is the weekly chart
snapshot
. You can see how Apple             failed at the all time high and the candlestick pattern is obvious, it can't get more bearish than that. We have a bearish engulfing which is bearish enough on it's own, but the next candlestick is a no demand bar, used in volume spread analysis ( VSA             by Tom Williams). Value stands at 90$, but with the current pattern I would be surprised to see Apple             fall only to 90$, but that's only my guess, and guessing doesn't make you money.

If we go to the daily, we have almost the same candle pattern. The no demand bar has huge volume , 3 times larger than the average after the stock split. The long day on 03.09.2014 has big volume too, and that was the first warning signal. The confirmation came yesterday.

MACD doesn't have a particular pattern, but the momentum has been fading for some time. This trade is based more on volume and price action.

I will close out on the opening what I have left on Apple             , and I'll be looking to go short. I believe this is a wonderful opportunity.
jangseohee
2 years ago
Downside: Fill the gap at 75.80, i suppose the wonderful upper & lower spike for the IOS6 launched was created by HFT algorithm!
Reply
angrybear168
2 years ago
I think the monthly support is more important, watching for this level to break
snapshot
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