timwest
Long

AAPL forming a short term reversal bottom pattern

BATS:AAPL   APPLE INC
826 9 2
Apple             has a short term bottom formation building.

The decline from 704 to 624 has set up a reasonable risk/reward trade to the upside to the 660-668 zone.

Volume patterns seem to indicate a confirmation of this pattern where less and less volume is seen on the declines.

Risk initially is to the 636 area with stops placed around the 632 area. Upside is to 656-660-668.

Cheers.

Tim

4:08PM EST, Wed, Oct             10, 2012 640.98 close
Subscribe to my indicator package KEY HIDDEN LEVELS $20/mo or a discount for a year and join in the trading room KEY HIDDEN LEVELS here at TradingView.com
timwest PRO
4 years ago
It ultimately reached the 652 area after re-testing the bottom of the base area. Longer term that has negative implications. It shows the sellers are increasing and the buyers are weakening, at the margin.
Reply
timwest PRO
4 years ago
Ultimately it made it to 652 after falling to the 632 stop level. The loss was manageable. 641 entry to 632 exit on a long position. I neglected to do any follow up on this chart, so I apologize if I left anyone in the dark. Feel free to contact me if you want any follow up or questions.
Reply
timwest PRO
4 years ago
 
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out