Technical Analysis of Financial Markets

Saturday, June 24, 2006

Apple Computer, Inc. (AAPL) - Adam & Eve Double Bottom ?

Apple seems to be attempting to form an Adam & Eve double bottom pattern. The left "Adam" bottom is identified with a spike. The "Eve" bottom forms gradually creating a rounded base. Higher volume on the left bottom usually indicates a stronger pattern. However, the pattern seems to be in very early stages and is confirmed on break of the Confirmation Line which serves as prior resistance. From then on, a price projection to the previous high of $85 is a possible target.


stockshaker said...

STEVEPURI, update your blog buddy! I like seeing your analysis!

Anonymous said...

Hey Steve, What do you think of a short on IDCC????? The uptrend doesn't look sustainable...what do u think?