n8fleming

AAPL Oscillating through 13, 34 and 50 MAs

Long
NASDAQ:AAPL   Apple Inc
Wave analysis (if my count is right) suggests AAPL will continue to retrace to the current supporting trend line to around $111 before returning to an uptrend. MACD , RSI and Stoch seem to support this theory. Last year, AAPL was basically static through Black Friday. It appears this year could be a replay.

Comments

you think 111 is a good entry?
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@ohio5000, 109-111 good entry..tgt 138-149 It Will Be Quick
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ohio5000 mohamadraffiwahab
@mohamadraffiwahab, thanks, im trying to be better i just started, its been a wild ride, alot of ups and down in the stocks lol
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n8fleming ohio5000
@ohio5000, 111 is a good entry IF it bounces up from there. I'm watching it closely for signs of upward momentum. My chart and indicators all point to a slight drop in the near future. As you can see by this chart, the stock has been moving up and down through the middle of the bollinger band, which I have set at a 34MA. On Friday, it closed above the 34MA. Which means it could break out above the triangle. However, on the daily chart, the RSI, MACD and Stochastic all seem to agree on the notion that it will cross down through the 34MA yet again. In which case, it SHOULD bounce off the lower trend line and head back up, at which point there will be nowhere else to go but up because the price will have reached the apex of triangle pattern. At least that's what I see.
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n8fleming ohio5000
@ohio5000, It's also worth noting that the recent downward pattern is a textbook "double zig-zag" WXYXZ pattern—i.e. a complete Elliot Wave correction which, in an up trending market (which AAPL is long term), signals a return to the prevailing trend.
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ohio5000 n8fleming
@n8fleming, ok cool Im using a little different setup but trying to learn from people that are profitable lol like finding good entrys because right now i would buy at apple say at 118 then it would go down so im looking for different bands on like the 20 and 30day chart to see where it is oversold and undersold at
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