Saturday, October 3, 2015

AAPL Apple Daily Chart Dead Flat on Year

AAPL closes at 110.38 exactly, to the penny, where it started the year at 110.38. The booze is gone, the party favors lay in disarray, an Apple enthusiast is passed out on the front lawn; the Apple party is over. It is interesting how the multi-month topping process resulted in a quadruple top. The black circle is the death cross and Apple will remain weak moving sideways to sideways lower as long as the 50-day MA remains under the 200-day MA. As typically happens, stock price recovers when the death cross occurs, since it takes many weeks to beat the price and the moving averages lower, but then rolls back over to the downside. Obviously, the 110.38 level is key. Apple will bounce or die from this support on Monday. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.

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