Sunday, May 12, 2013

AAPL, GOOG and GS Technical Analysis

AAPL: Friday was a typical ranged day like what we expected, no surprises. The short-term trend is clear now, it'd reached the $450 target level and now we're waiting for the $448 level to be reached. If breaches 448 then the new target of 440-442 (the trending 20EMA daily) goes into effect immediately. Added the invalidate line for the 448 target thesis to show what shouldn't happen to short-term bears.




GOOG: A bull train that keeps on gifting, been a fun ride so far. Ascending triangle formation now on the hourly timeframe, if breakout then the 100% measure move is roughly at $895. We have not reached the 100% MM of the gray breakout yet though, which is targeting $883.8.Trust price only, train until price violates support.



GS: Waiting for price to trigger the start of a new bull leg up. Patience pays well as evidenced by previous times.