Friday, 5 October 2012

Will AAPL fall from the tree?

Revisiting AAPL, price movement has reached important support levels as noted in several times from my twitter account to followers that a bounce at least was imminent. The stock price bottomed right on support at the 650$ level and bounced right back up to close that day at 661$. The price reached 671,86 (at least +15$ profit from our alert) and is now pulling back down towards 660$. A back test of the upward sloping trend line could be the reason. This is our bullish and most favourite scenario. On the other hand bears will try to break support levels that will open the road ahead for a decline towards 620-10$. All in all, we could be at the start of  a new upward move above 700$. In order for this to happen the price must stay above 650$ and break resistance at 681$ and 702$.

Thank you for reading my thoughts and for any more information don't hesitate to contact me.

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