2waytrading

Bearish Shooting Star May Give Bears Reason to stay backyard

NASDAQ:AAPL   APPLE INC
324 0 2
Price has finally over come 50-day moving average which also was another vital level for FIB watchers. Though price managed to stay above bearish entry point, and weakness remains in the weekly chart, bulls remain firmly under control recent swing gains and price is out of the tight range but soon may come back to that trading range and give bears good reason to attack before earning. Good to stay sideline if you are not in the trade and wait ER to make its final battle lines. Push below 107.3 will give us strong conviction to join the bear camp and move above $116.10 will invalidate the bearish pattern that remains very possible with target price $85.25 Real time alerts www.2waytrading.com
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