AAPL: Santa Rally or major fade at resistance?
Updated
AAPL has traced a very impressive rally after the bearish setup we had in the weekly failed miserably.
The current explosion sits right below the 253 period moving average, and also very near to a strong cluster of resistance where we have low volume resistance and the 200 period MA, which many people watch.
If it flies past these levels, I'd expect it to hit my target on time or ahead of it.
The timing for rally looks right to me, and might be a terrific fade once we arrive at destination.
It's interesting to note that the current decline stopped dead at the 4th quarter of 2014's low.
Keep close watch of the price action around the aforementioned resistance, I'll update the chart regularly.
If you want live updates and more information, make sure to follow me at collective2, where I provide signals for auto trading and via email for a monthly fee.
I'm also providing access to a live trading chatroom free of charge for concordbay.com customers, contact me via skype for more details.
Cheers,
Ivan Labrie
Time at Mode FX
Analyst at Concord Bay dot com
The current explosion sits right below the 253 period moving average, and also very near to a strong cluster of resistance where we have low volume resistance and the 200 period MA, which many people watch.
If it flies past these levels, I'd expect it to hit my target on time or ahead of it.
The timing for rally looks right to me, and might be a terrific fade once we arrive at destination.
It's interesting to note that the current decline stopped dead at the 4th quarter of 2014's low.
Keep close watch of the price action around the aforementioned resistance, I'll update the chart regularly.
If you want live updates and more information, make sure to follow me at collective2, where I provide signals for auto trading and via email for a monthly fee.
I'm also providing access to a live trading chatroom free of charge for concordbay.com customers, contact me via skype for more details.
Cheers,
Ivan Labrie
Time at Mode FX
Analyst at Concord Bay dot com
Note
...Major fade at resistance.Note
Heading back down below the previous resistance?Note
Not bad...
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