Quote:
Originally Posted by Technical_Indicator
possibly a base, AAPL support around $125.00 ???
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Doesn't look like it TA. It isn't even the first resistance line if the current price fall holds. At the time of writing (8:30am MST) the price is around $110.00 and falling.
Here is the sharpchart:
AAPL - SharpCharts from StockCharts.com
There is nothing...
absolutely nothing...bullish in this stock. Sorry chuck44l you will be watching this for quite a while before there is a turnaround IMHO.
The bollinger bands are strong, wide open and negative. The Share price continues to hug the lower BB...not a hint of even sideways movement yet.
The 50dayMA has recently crossed the 200dayMA....never a positive sign.
The minor rise of the RSI in the previous few days has reversed and we are headed back to the gutter again. The TRIX is strongly negative and shows no bottom rounding and finally the Accum/dist has crested and now the 20 day MA for it is headed negative with the signal line beneath it.
Here is the P&F chart
The price is now $108.00, falling another $2 since I started writing this. We are reaching for the blue support line at $104.00....this line should hold as support....if it doesn't...well that would not be good, to say the least. Our next support is around $98.00
We have smashed the support at $120.00-$119.00 and this now becomes the resistance line.
It is early in the day though and the final vote on the bailout has not occurred so some of this carnage could retreat. But overall it does not look good, technically.
Here is the 5 day linechart
Yikes! This is
not a drop in price with only a few shares being traded. There is a lot of momentum here. I don't see a major turnaround at the end of the day. At best I think it could retreat to $120.00 but I have a feeling that before the day is out we will be testing the support at $104.00 and cross your fingers that it holds.
Technically this is a very bearish stock, in my opinion....has been this way for since mid June.
