Tuesday, 10 July 2012

US Stock Tip: Has Apple Strong Run ended?

Dear Friends,

Since my last email my on recommendation on Apple, it has been running non stop.

See our article on Apple a few days ago:

My opinion is that Apple's run may not have finished. Now the price in mid day is $613. Looking at the daily chart, we can see that on Friday there is a small red candle. This is what I called a show of strength and a potential trigger setup for higher prices. Though the day has not ended, we can see the big body green candle, indicating bullishness again.

Without the red candle, I may not be bullish. The red candle signal a pause, but also a place to buy.

But having said that, you need to take note of Apple resistances at $620, $625 and the highest point at $645. All these are resistances that Apple needs to clear on its way to Earnings Day on Tuesday, 24th july, after market close.



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