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Saturday, June 1, 2013

The AAPL trade as it stands today

AAPL finally broke free of a September 2012 downtrend during May, but traders still need to be wary.

Currently in consolidation between $385 and $470, and trading below the declining 200d average, AAPL is attempting to repair itself.  This is a neutral formation.  Ultimately it will need to trade back above the 200dma and pull that 50dma up with it to get this chart right side up. No action is probably the best action here.  In time the chart will provide further direction, after the consolidation has been resolved.

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