By Andrew Nyquist
Well, we got that downside and then some. Apple (AAPL) dropped below the head and shoulders and 200 day moving average targets late last week, shaking the confidence of the bulls.
However, on friday AAPL recorded a perfected DeMark buy setup 9, increasing the probability of a bounce this week. As well, the RSI dropped below 30 which is usually a sign a stock is nearing a bounce.
Trade safe, trade disciplined.
More Charts here.
Apple (AAPL) stock chart from November 5, 2012. AAPL technical support and resistance levels with trend lines and technical analysis. AAPL DeMark buy setup and analysis.
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No position in any of the securities mentioned at the time of publication.
Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of his employer or any other person or entity.
