Apple Doji Heaven

[james_gsx 16]

What is everyones input on all the dojis in AAPL? I am interested to here some feedback from those of you who know the art. I called a top based purely on psychological reasons (everyone loved the stock and I heard enough about it, knew it would have a short term top). So how would you interpret this chart?

 

It looks like a lot of indecision, but how would you decide what will happen next?

[TinGull 10]

Looks higher to me right now. That dip below support of 115 creating a nice bullish pattern on high volume. If there's no follow through to it next week, that'll be the deciding factor. All the dojis, though, are really just cause of all this market volatility.

[Soultrader 12]

I would watch out as there is a clear break of the uptrend. Any long position now is a countertrend trade. Im sensing lower to flush out more sellers.

[TinGull 10]

While the secondary uptrend line was broken, the primary downtrend line has not been, and was obviously supported by that doji on high volume.

 

Thats my best guess on AAPL. I currently own about 16% of the float on Apple, so I hope it's going up. Just kidding.

 

[Nick1984 10]

I see that as going up. The Doji is closing up in the top half of the candle on significantly higher volume than anything for over a week prior. Tin pointed out nicely as well that the original longer term up trand still seems to hold.

 

On a fundamental reason, the US Fed lowering interest rates will help divert cash back into stocks and out of fixed interest which should help push higher.

[james_gsx 16]

Coming back to AAPL, yesterday (Wednesday) we had bearish engulfing pattern on HUGE volume. Today we have what looks to be a doji, again on very strong volume. Looking at the weekly chart, we had a doji signaling a top a few weeks ago on strong volume. We are back up that resistance level and the bulls can't seem to take control. There was a good hammer to go long a few weeks back, so looking at this week I would assume now would be a good time to exit that long position that should have been established?

 

 

 

 

 

[brownsfan019 17]

James - you got it, all longs should be exited and a short could have possibly been taken there. I'll try to take a look at the charts this weekend.