Sunday, January 27, 2013

AAPL weekly chart - approaching trendline from 2003

Here's a logarithmic chart of AAPL going back to 2003, as you can see AAPL is now very close to this trendline - will it bounce off it?? 

However even if it does, the daily chart has a lot of damage of the large gap down last week on Thursday and the stock will not go straight up even if a bounce off that line occurs - the first bounce/rally should be sold and AAPL may need to base out for a while.

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