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AAPL Monthly

Posted by StockBuz on June 2, 2013 at 7:50am
With so many watching AAPL's possible head and shoulders bottom on the daily, I took a step back viewing a long term monthly chart. It has retraced 50% of it's run up since the beginning of the credit crisis and a bounce @ 50% would portend well for the long term high to be challenged. RSI has flattened now as it did then. I'm just not convinced on the symmetry of the H&SB and wonder if it won't head lower (if the overall market heads lower, it could drag it along with it). If so, then I would look at the monthly chart fibs for final support. Mean reversion

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