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Last Update: 6.6.13
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Related Article(s)
Video Analysis “$AAPL Bottomed? Exploring Bullish Arguments”
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5.30.13 Thursday
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Entered Long Positions @ $447.25
Here are few thing I like about yesterday’s close
- Despite of huge bearish reversal candle (Tuesday), it didn’t have much of a follow through to the downside
- Today we slightly gapped up this morning diminishing the momentum from the bearish side
If we can have follow through by end of the day, we can completely nullify the bearish candle and make some bullish progress here.
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5.31.13 Friday
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Added Some More Long Positions @ $453.40
Here are the good and bad.
Good
- We moving away/higher from 100SMA
- Third day in this recent bullish run up
- Trading above Tuesday’s bearish reversal candle completely diminishing it’s potency
Bad
- Still bound and controlled by the rising rectangle pattern
- We’ve been having declining volume ever since the 16th. (concerning*)
- Volume is still a concern to me so I am mentioning it again. No volume No Trend!
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6.3.13 Monday
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Closed 25% of the Long Positions @ $443.63
I closed some positions when it dipped below $444 and it looked very bearish until about hour before close when bulls started to push hard. Here are several things I like about today’s price action.
- 50EMA possibly now working for the Bulls? (“Watch that 50!”)
- Closed above 50EMA (“Watch that 50!”)
- Recent uptrend support holding up so far
- Today’s dragonfly doji (with ok volume, still low in my opinion) possibly nullifies last Friday’s shooting star candle
- Possible bulls flag (last two days)
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6.6.13 Thursday
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All Closed Out (with loss) @ $439.88
50EMA couldn’t hold and tanked this morning. Looks to be it might come back down to about $430-$420 level before finding another support level.
6 thoughts on “$AAPL Finding Momentum”
I think that it will break out of 100ema next week after WWDC.
I am buying on any dips. market swinging too fast for me to put in my orders so…
I’m putting in limit buys based on AAPL dipping 4-6 points that day.
My limit weekly calls got executed this morning and I sold it when AAPL went positive. I thihk AAPL inches higher until the event next Monday but doesn’t breakout. (tight range moving upward).
Fed news is also moving the market. We won’t know their decision until June 19 so until then, good news is bad news and bad news is good news for the market. Bad Initial claims report this morning helped the market go higher because they thought the Fed will continue their monetary policy. But then good manufacturing numbers pulled the market back.
I’m down on my calls but looks like AAPL bouncing off that 432 just like yesterday. Bought more this morning.
I still expect AAPL to break out of 460 next week or at least hit that number.
Or if investors don’t like what they hear, this could tank past 420 and head to retest $380 low.
I think there will be a lot to digest but with large buybacks and dividends along with new product cycles, I think it goes higher and eventually hits $500+ this summer.
We will see on Monday at the WWDC.
Zex_M19 Looks like you might be right Kay. Apple to retest that $420.
There was some support near $433-$434 the last few days but now it’s broken along with the rest of the market on fears of the Fed next Wed. I got stopped out Monday on my calls. Took a loss but lesson learned.
Zex_M19 mostly because the market fell. Everything fell today.