Is AAPL going to break its resistance or is it going to pull back? What do TAs say?
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427 points
larryat36 answered one year ago …
On an almost perfect trend line since early April and with the bullish engulfing pattern yesterdat if there is a follow through today it looks like it could be in for a little pullback if that happens on heavy volume. Nothing sure yet.
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951 points
Grudun answered one year ago …
Based on the MACD and Stochastic it looks like it is going to take a breather at this level. Whether that precedes a drop or additional growth I don't have the TA knowledge. But my instict says it will go higher afer a brief breather.
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1902 points
alanj answered one year ago …
Using the weekly chart- both the Williams% R and the slow Stochastics are extremely overbought. It is also some distance from the commonly used MA's. It hasn't been at this price for over 4 month's. It started it's current uptrend 2 months ago with hardly a noticable pullback. These TA's point to a possible major pullback. I say possible, because stocks can continue to go higher even in overbought area. If you own it I would place a stop at the previous weeks low. If you are looking to buy I would wait until a reasonably good pullback and then buy when it starts heading back up. This could be several months away.(not for the pullback but for the uptrend after the pullback)
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2172 points
ChaosNantuko answered one year ago …
well... I tend to focus almost exclusively on TA when trading, and as far as i'm concerned, you shouldn't believe either will happen until AFTER it goes through resistance, or pulls back. Let the market tell you what it wants to do, don't try and tell the market what it's supposed to do. If it breaks resistance, then go ahead and buy. If it begins to pull back, short like you mean it!
While i wouldn't bet on it either way yet, i would say its more likely to go down at this point. Given today's action, it seems like the path of least resistance is downwards. I'm seeing a bearish engulfing candlestick pattern, combined with the generally overbought indicators, i'd say its more likely going down then up. That being said, i'd see what happens tomorrow to be sure. if it goes down tomorrow, i'd expect the downwards movement to continue. if it goes up tomorrow, wait and see if it will break resistance.
142 points
RobertW answered one year ago …
It is rumored that Apple will introduce a new, faster phone on June 9. If,if,if, it is perceived as a winner whem compared to the recently introduced RIMM phone, the stock will soar. So, an option straddle might prove beneficial for either direction the stock takes.
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