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Apple Inc. Message Board

  • aapl_2000 aapl_2000 Nov 30, 2013 9:13 AM Flag

    Apple is retesting it's long term trend line...

    Looking at a long term chart since Apple broke out in 2005, apple broke through it's 10 year trend line last year and is now retesting it again (but is still below it). . I wouldn't be a buyer until that trend line breaks (currently it's around 560), but I wouldn't be a seller either if I owned shares. Apple has a lot of momentum and I give it 50/50 odds of breaking above...

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    • yasi@rogers.com yasi Nov 30, 2013 11:20 AM Flag

      I guess you are using LOG scaling instead of arithmetic scaling, that's why you are calling it a 10 year trend line. What was broken in 2012 was the 3-4 year trend line from the 2009 low. Your concept is half right, that the retest will occur around $570, which is also a Fibonacci confluence zone. So I expect a resistance there, but that doesn't mean the stock will reverse. If the stock broke through that level there is another resistance at $605 level before the stock can retest the all time high

      • 1 Reply to yasi
      • The trend line looks solid starting in 2008 and extending to the end of 2012... It stayed below the trend line until now and is retesting it at 560... of course that trend line continues to move up slowly.. it was at about 490 when apple broke through it a year ago.. So even if this retest of that trend line fails, it could slowly drift upward... I think it will at least be an area of resistance and colsolidation. If not, I'll join the bull party.

    • Pull up a 3 year daily chart. There is a nice long curve, from $675 to $375, then a double bottom, now a resumption back up to the $675 level. It is called a "cup and handle" formation.

      Not only will AAPL stock not stop climbing until $675, it will actually accelerate since it's forming a parabola upward to complete the cup. This past week is a taste of the acceleration to come.

      Once it hits $675, that's when the pullback will begin. By the end of January 2014, AAPL will be around $675.

    • Absolute nonsense that you spew long term trend line ? You idiot iPhone in 2007 and ipad in 2010 totally ruins your freakin stupid long term trend line. You freakin moron spewing about light volume check yourself shortie

    • just bye back in , stop looking back

 
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