Warning: Following my trades may be hazardous to your financial health. See Disclaimer.

Tuesday, April 17, 2012

AAPL - Looks Like The Bottom Is In

Look at that monster volume on the opening bar!  The low may be retested, but it looks like AAPL is marking a bottom.  The shorts got squeezed hard, but they deserve it.  What were they thinking holding AAPL shorts after its "unprecedented" (just exaggerating) selling in the past few days?!  Too many people eyeing for that 50 day EMA (not shown but currently at 563.50).  What they didn't realize is that there are 2 ways to get there:  either the price goes to the 50 day MA, OR the 50 day MA comes to the price.  The bulls can easily do it with the latter, even if just consolidate sideways.

No comments:

Post a Comment