Looks Ripe for an Apple Reversal
I'm glad that Apple (AAPL) earnings are finally over with. Now we can go back to watching the charts to see if this stock is respecting some of the bigger-picture technicals -- and guess what? So far, it is!
Let's take a look at a weekly chart. In the past I have used "symmetry" -- which others call "measured moves" -- to help define key areas of support and resistance in the stocks or markets I've watched. In May I used this to help define a rather healthy Apple support decision that came in right around the May 18 low -- $115.34 down from the April 10 high on the weekly chart. This swing was very similar to a prior $114.04 decline on this same chart....384 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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