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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less.....
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To: Newly2b who wrote (55972)7/29/2006 12:25:20 PM
From: Newly2b  Read Replies (1) of 59879
 
To add perspective, here is the AAPL weekly chart, showing a larger down-channel or Falling Wedge pattern. You can't see it in this chart, but price actually closed just above the upper falling trendline last week, and may have formed the second candle of an Advance Block formation. Need a smaller third green candle next week to complete the formation. If that occurs, price should reverse and retest the b/o from the Falling Wedge or could even reenter the Wedge.

IMO if price reaches the target of the b/o from the Falling Wedge on the Daily (74) it is quite likely to continue on to the 86 target of the b/o from the larger Wedge. However, unless the greater markets stage a pretty spectacular rally into August, which is not out of the question, I would question whether price can reach that 86 target before a possible big drop in the greater markets in the Fall. The 74 target appears doable in the shorter term. As always, JMO, of course.



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