This is the first time in a long time I am wee bit bullish on Apple and let me explain why…

1. We sold off  A LOT in the past couple of days and are now getting a tad extended

2. We are at support on the weekly/daily as well as a VERY long term support trendline

3. The intraday chart on the micro basis (last 10 min) closed pretty bullish with some volume coming in.

4. We look awfully similar to 11/15 (would like today) and 11/16 (would be MAYBE like tomorrow)

Time will tell but right now I think the R:R is in the favor of the bulls on Apple right, especially since the earnings are coming up… This could send the stock flying back up. This is purely based on the recent couple month action… The expectations are not high now and beat could mean some want to “BUY” the news instead of what we saw in $LEN And $FB today.

Trade accordingly. Take a look at the charts below (click to enlarge), there are many notes on them.
1/15/2013 17:15:39

I agree, this is exactly where you want to be going into a record earnings quarter...

Ben C Banks
1/15/2013 19:21:01

Yup. I see the same thing.

1/15/2013 18:53:49

I see same things.. and of as of now on After-Market APPL is around 490.00 so if it hold Tomorrow we can see appl open over = >$500.

For me the risk reward for a Short swing Trade is Good I'm in @ 497 will let it run with a trailing as soon it goes over 508 to see if it catch 520-522 Area.

BUT if it is already over 505 on pre-market will take my gain & buyback on dip.

Ben C Banks
1/15/2013 19:20:21

Sounds like you have got a plan. Good job. We shall see hot it plays out, could fall more tomorrow then to reverse.

1/15/2013 20:43:06

See your charts.Very nice work. Might bounce a bit but believe further pullback than LOD today before earnings next week.

Ron Matuz
1/16/2013 00:43:43

Pre-market chess match again. Will it open above or below the "wall" (500)? Did a nifty end-around yesterday to avoid the battle. The wall was too high and thick to actually breach, so snuck around in the early morning light, opened market on the other side, and got the "headline". Wonder if we'll ever get to see if it can actually be broken through?


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