Bear flag
Carl Icahn still thinks Apple is "dramatically undervalued" and upped his price target recently for not getting.....trapped?
I see a bear flag... what do you see?
If you agree with my chart(s) or just want to show appreciation - please click the thumbs up in top left corner of the chart.
I would really appreciate it! Thanks!
TWUC
@BLawrenceM...
This is my first attempt to publish so nothing dramatic just a system test. Attached is the 2 dollar WEIS WAVE on the 1 day price chart. Actual wave volume is 1 million times the actual value.
Also immediately below the price chart is the 2 dollar WEIS VOLUME chart .
The lowest of the two volume charts is the 1 dollar wave of the APPL daily chart. ...
Apple has formed a symetrical triangle on the daily time frame. It has now formed 2 inside bars as price has stalled in recent days. Price has broken two inner trend lines and is hovering above the 20EMA. We are seeing indesicion in the market and price can move in either direction (obviously!)
I anticipate a break below 125 will see lows of 123. A break above...
I am looking for Apple to one again bounce off of the main channel line and 50 MA.
It is a high probability set up on the hourly as well. We are currently over sold on the stochastic and are rotating nicely back up. We are also over sold on the RSI.
We are currently in the buy zone and looking for us to move up again to the 128 area. This area has a big volume...
Apple trend reversal signals are extremely strong now after the "buy the rumor & sell the news" today.
It might very well close below EMA 50 today, and that includes rejection of the all time high made back in 2012 fall.
If that does confirm, we are looking at correction down to 59~79 area which is a 40% correction (max).
Next week's movement is critical here,...
Nice consolidation above previous resistence (strong Close above), ATR very low probably will expand right from the OPEN, higher timeframe is clear, WWDC is coming soon (speculators may be building smaller positions). Buy only if market very strong or consolidating on low ATR above yClose.
