October 16, 2012

APPLE oversold forms a Hammer


  • Apple daily stochastic looks oversold and Price forms another Bullish hammer this time at 100 Day SMA. This pattern needs confirmation with price and volume advance. Breaking above the channel resistance line could give a meaningful bounce for Bulls of Apple. 
  • Not sustaining above 100 Day SMA will negate this bullish possibility.
  • SPX ANALYSIS AFTER CLOSE
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