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Apple: 24 weeks without closing below the previous weekly minimum


Apple is a title in absolute free rise, which means that it is not easy to find support levels that are really important. Well, these quote very far from current prices.

Technical analysis

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As you probably already know, you can't say much about a title found in free climb Absolute, as with those who do it in free fall. Proof that the trend cannot be more bullish, in addition to the fact that it has recently marked all-time highs at $ 323.33, is the fact that we currently have 24 consecutive weeks in which the price (in weekly period) has never closed below the minimum of the previous weekly candle. And this already says it all. On the other hand, Apple publishes results on Tuesday at the close of Wall Street, which means that on Wednesday it will wake up with significant ups and downs depending on the results it announces. The fact is that, if the week ends, it will be the first time since last August in which we will have a weekly closing below the previous minimum. That is, it will be the confirmation of the beginning of a more than probable corrective phase that drains / adjusts proportionally the very high increases of so many months. So, as a summary, we will be very attentive to the closing of the weekly candle this Friday.

Apple weekly chart since the end of 2014

. (tagsToTranslate) Apple: (t) weeks (t) close (t) below (t) minimum (t) weekly (t) prior (t) Category: All (t) Category: Market Report (t) Category: Technical Analysis (t) Category: Pulses (t) Category: Analysis (t) Category: Market Pulse (t) Category: Sectorial: Electronic Technology

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