Wednesday, January 9, 2013

1/9/13- AAPL Update

12/7/12 was the last time I posted an AAPL weekly chart. After hitting the 520 level, I noted that AAPL bulls had to be careful if AAPL consolidated between 570 and 520.

So far, five weeks have passed and AAPL is consolidating as highlighted below.

Note on the daily chart below a potential triangle is forming. This is a consolidation pattern before the trend resumes. IF and when it does, the large neckline will be broken.

So lets keep an eye on this and will earnings be the catalyst to send it through or save it?  We shall see.

WEEKLY

DAILY

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