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.
2 comments:
STEVEPURI, update your blog buddy! I like seeing your analysis!
Hey Steve, What do you think of a short on IDCC????? The uptrend doesn't look sustainable...what do u think?
Cheers
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