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Strategies & Market Trends : Classic TA Workplace

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From: Henry J Costanzo8/3/2013 8:59:41 PM
5 Recommendations

Recommended By
HerbVic
J.F. Sebastian
MGV
Mick Mørmøny
seminole

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AAPL,,,Weekly update..

Trend reversal to the upside continuing,,,confirmed by recent breakouts,,,and holding above 2 major downtrend lines from the Sept ATH and an intermediate downtrend line from the May high..

A first bullish pennant completed in early July measure to 449ish, and that was fully met..Last week's high of 462 is moving in on the 468ish measured move from a more recently completed bullish flag…

Moving above 452ish last week is overcoming an area of significant long term resistance, with the next such area. both from prior congestion areas and from the falling 200dMa could be expected at the aforementioned 468ish level..

A particularly intriguing feature of AAPL's chart at this juncture is that a decisive break above the May high would complete a classic double bottom formation…measurable to 564ish. Well worth remaining alert to such a possibility..vbg
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