liberatedstocktrader

Everything Looks Sweet With $AAPL - or is it Souring?

Long
NASDAQ:AAPL   Apple Inc
Evaluating my position on Apple, I see in the price chart, a nice breakaway gap in the candles, a nice price recovery with a bullish engulfing pattern occurring on 24th of September. This is the day after a blowoff bottoming of price (see the large volume spike on 23rd September. Then price procedes nicely on a mini bull run. HOWEVER! Whilst the ROC indicator confirms, RSI has a slight divergence, the Chaikin Money Flow is showing underlying selling pressure for the last 4 weeks. It Looks like even though the story of $appl is sweet right now, investors are nervous at these prices and the buying pressure is making way for selling pressure.

Keep an eye on the worm in the Apple. ;)


Barry D. Moore CFTe Financial Technician
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