Sunday, December 27, 2009

Apple's Technical Outlook



Apple stock is in quite a good uptrend from past few trading sessions.But looking at the chart now it looks exhausted in the upmove it is having.It has formed a triple top at 208 levels.A dip till 202 levels can be accepted than we have to see if it sustains that or not.Next support comes around 197 lelvls.

If Apple is able to cross 208 levels we can see highs of 210 215 in short term time.

One point of caution is Negative divergence which is emerging in the RSI indicator,Prices are making high but indicator making low.Buy this stock only at dips of 202 to 197 levls.

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