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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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Thursday, August 23, 2012

AAPL "Fritters" at the "Mean"

At the moment (intraday on Thursday), AAPL is consolidating at the "mean" (broken pink line) of its uptrending regression channel, as shown on the Daily chart below. A drop and hold below this and the 50% Fibonacci fan line (heavy yellow line), could send it down to around 580.00, its next confluence support level, or lower.

So, this little bit of "frittering" within this range (675.00 to 648.00) is important...one to watch!