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Friday, September 22, 2006 

AAPL & NVDA potential short candidates

Chart courtesy of stockcharts

In the daily chart some indicators shows a potential short position from these levels for the short term.

Chart courtesy of stockcharts

AAPL stock break the wedge according to the daily chart, also the chart show another sell signal, the MACD fast line crossed below MACD slow line. Due to these technical indicators Bears can now take the control.
Both charts shows a Rising Wedge and a "Rising Wedge" is Bearish because prices ordinarily fall down and out of one.

Economic Calendar for next week :

25 - August Existing Home Sales
26 - September Consumer Confidence
27 - August Durable Orders ; August New Home Sales ; Crude Inventories
28 - Q2 Final GDP ; Initial Claims for the Week Ended Sep 16
29 - August Personal Income and Spending ; September Michigan Sentiment ; September Chicago PMI

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.

That's All. Have a great weekend !!!!

AC

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  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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