IvanLabrie

AAPL: Santa Rally or major fade at resistance?

NASDAQ:AAPL   APPLE INC
a year ago
AAPL             has traced a very impressive rally after the bearish setup we had in the weekly failed miserably.
The current explosion sits right below the 253 period moving average , and also very near to a strong cluster of resistance where we have low volume resistance and the 200 period MA, which many people watch.
If it flies past these levels, I'd expect it to hit my target on time or ahead of it.
The timing for rally looks right to me, and might be a terrific fade once we arrive at destination.
It's interesting to note that the current decline stopped dead at the 4th quarter of 2014's low.
Keep close watch of the price action around the aforementioned resistance, I'll update the chart regularly.

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Cheers,

Ivan Labrie
Time at Mode FX
Analyst at Concord Bay dot com
a year ago
Comment: ...Major fade at resistance.
a year ago
Comment: Heading back down below the previous resistance?
a year ago
Comment: Not bad...
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timwest PRO
a year ago
Excellent call = 120 is a huge level of supply. Very well done.
+1 Reply
timwest PRO
a year ago
This AAPL is a lot like INTC too.
+1 Reply
IvanLabrie TOP timwest
a year ago
Slanted IHS...Yes.
I think it might cross the resistance, trend signal is there.
Reply
timwest PRO
a year ago
I think this is a perfect spot over $122 to enter. I'm still waiting to pull the trigger to short. I'm looking for some relative weakness and loss of momentum too.
+1 Reply
IvanLabrie TOP timwest
a year ago
I like these make or break situations we're having lately. Pretty clear once fundamentals are out.
Reply
themarketzone PRO IvanLabrie
a year ago
110$ was a support zone I monitored yesterday and now once it held, there's a chance we will see 120$ again before the next bearish move (bearish Gartley completion near 120$)
Reply
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