Apple weekly chart analysis

  • Apple got hit hard this week, despite the good earnings. Off course the illness of Steve Jobs has a hand in this.
  • Can we conclude AAPL is going for a leg down ?
  • Do the good results create a counterweight for the bad news about Jobs?
  • Volume spiked up, so the attention to AAPL is there.
  • I wouldn’t conclude anything yet and wait some more weeks for a clarification. Or AAPL will continue to rise as the news of Jobs gets digested. Or it can be hit really hard if Jobs wouldn’t return.(let’s hope he does come back)
  • If you’re in, Stop loss is at 322
  • A channel pattern (uncertainty) is most likely.

 

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