Monday, February 13, 2017

AAPL Apple 2-Hour Chart; Negative Divergence; Rising Wedge; Overbot

Television commentators are screaming from the roof tops to buy Apple with both hands. AAPL has been very influential in pushing the broad stock indexes to new record highs over the last couple weeks. The 2-hour chart, however, displays negative divergence, a rising wedge pattern and overbot RSI and stochastics, all bearish, wanting to see a move lower. Price may receive a quick pull back to 131.80-132.00 in this time frame, for starters, and then reassess.

So if you wanted to cash out of AAPL with gains take them now. If you want to go long AAPL, don't. Wait for a day or three until the neggie d spankdown occurs in htis 2-hour time frame. Apple has momo and the  MACD on the daily chart is long and strong so you do not want to short it right now. Any weakness in Apple may filter into the broad market since Apple played a big part in sending the stock market higher during the rally. 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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