This is intended to be a forum for me to post chart ideas and hopefully receive feedback and stimulate discussion.It is not intended to constitute investment advice.
Sunday, 20 December 2009
This chart shows equality in the price and time ranges for the most recent rally and the one that preceded the previous top,so there is time resistance as well as price resistance.Also the time factor is a "natural" cycle,one year.Two attempts to break 200 have failed.Using Gann's rule we can short Apple if it fails on the 3rd attempt,or buy it if it breaks out.
The U-tube video points out that after a breakout a stock should not retreat more than 3 points below the breakout level,yielding a natural stop loss level eg 4 points away.
I believe Apple is more likely to fall from here in which case the stop could be 4 points above the last high.Weekly MACD (not shown) is rolling over.
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