The price of Apple Computer (AAPL) remains at the 1×1 angle which is providing resistance at this point in time. The bullish story is that price did not run away and hide from this angle once it hit. The 50/50 point occurs in less than a year and it will be interesting to see what happens to price. A bullish correction will remain above the 50% price retrace level.
Price made a head and shoulders low before the current run. The time cycle recently completed with price above the 50% level which is bullish. Extremely bullish would have had price back to the 2007 as the time cycle completed.
The shorter term is below 1×1 angle from the November low. But if that fan is translated to the low of the right shoulder it shows price moving up above the 1×1 angle slope it came down from 2007-2008.
0 responses so far ↓
There are no comments yet...Kick things off by filling out the form below.