AAPL Apple minute chart highlighting Steve Jobs appearance during the Second-Generation iPad release 3/1/11. The green circle shows the price at 350-351 as Jobs walked onto the stage. Price spiked to the 353+ level in minutes as media reports said that Jobs looked well with a strong voice. At that purple circle, the first news video hit the wires showing Jobs walking out onto the stage. The price went south immediately. As the day continued a sideways symmetrical triangle formed where price broke to the upside from the apex. Price hit the target projected by the triangle height minus some distance due to the price coming out the apex which typically results in a weaker move up. That price high at 3 PM also satisfied the RSI's desire to print a higher high.
Price then moved down again due to the negative divergence shown and settled at the 352 area at the close. This area sits between the price before Jobs took the stage, and the price spike high that occurred from media reports saying Jobs took the stage and all looks fine. Price took a pause overnight to consider which of these sides to weigh heavier in future trading. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.
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