The low of 1936 is well supported and the volume comes higher than previously traded. In medium term, the this level will be best buy level. But soft monetary policy and low rates are pushed a lot of money to the market and the demand will be higher. So 2200 level is nearest support level now.
Long term trend line is nicely supported and also just penetrated the medium term down trend line. Now there should be more accumulation to correct the short term up move.
I the price stays outside the med term trend line to correct then there should be next sudden movement up to the level.
Apple company is going to release new product to the market. That is good news but from the chart, it is still in correction phrase. Many analysts forecasting that 21th of March product announcement would trigger bullish move. I think the correction phrase can be completed in short term it would go up but there is still one more move down to the up trend line. For...