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Saturday, May 12, 2007 

AAple shares run again !! ACI and MAT

Chart courtesy of stockcharts

AAPL shares were up again reaching a new historic level at 109.13$ , however have closed at 108.74 up 1 from the previous session. Over the past 8 days, Apple stock has had incredible buying pressure, the stock has gone up 8 days in a row and 13 out of the last 16 trading days, WOW amazing performance for a stock like AAPLE. I think at this levels a pullback for a profit taking should soon occur, only a shortly correction I suppose according to the technical chart above, due the fact that stock is trading in a severely overbought conditions. AAPL stock is in a strong bull market with both 50 day and 200 day moving average going up. Support for a pullback 100$.

Chart courtesy of stockcharts

Next week keep an eye on MAT for a possible breakout over 29.70$.

Chart courtesy of stockcharts

Next week keep an eye on ACI for a possible breakout over 39$.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

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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