Profile,
I see our pal DB is off the computer today, or so it seems. The negative play you mentioned a while ago is now ripening on AAPL, from a technical point of view. The weekly trend is flattening, showing some sort of top forming. On the daily although OBV is still strong, volume as I measure it (looking at the relative moving averages of volume, the 10 vs the 50 day ma) shows a negative cross as of 2 days ago; to wit, volume levels are now trending down, and at a recognizable decline. (note: this avg volume study is not available on stockcharts.)
MACD levels, which led the flattening are now large and negative (histograms), which means to me that this one will have trouble rallying much higher in the near term. This stock (again, near term) seems to have run out of gas on this run. Downside targets (take your pick) are 52.50 (20 ema), 50 (30 ema), 48 (previous channel congestio), 45 (50 ma).
Could this regroup and power higher? Yes. But short term, things are setting up for some sort of correction, imho.
stockcharts.com[h,a]daclyiay[pc20!c30!f][vc60][iut!Ua12,26,9!Ul14]&pref=G
Kb |
