Wednesday, May 15, 2013

AAPL, GOOG, GS, NFLX and PCLN Technical Analysis

AAPL: Price drifted down as expected and both targets have been reached now. Expect further weakness tomorrow into $437-439 with a Major Support at the $435 region. Also, AAPL has a Fast and Furious Oversold Setup incoming so expect a rebound when reversal candle confirms in real time. Trust price only, targets will follow you.




GOOG: Amazing bull train really, gray target has been reached now and we've almost reached the ascending triangle breakout. The revised 100% measure move is 897, not the roughly $895 number we talked about a few days ago. 61.8% target is at 890.6, only believe in this right now. Let price and momentum dictate our decisions. Continue to trim and trail, keep enjoying the free bull train.



GS: No surprises here, we talked about this during the Sunday update. Today, price went above our trigger line so it confirmed the new bull leg up. We're also almost at our first target already. If close above this target then expect the 157->159 resistances next.




NFLX: Targets have been reached, most likely needs time to consolidate now because it's up 5 days in a row. Have a new target in place if it continues and breaks above $236.6. Just a reminder, the 240-250 area is the next major resistances on the weekly scale. After this consolidation period, we'll wait for a breakout to take us there. Patience pays fat.


PCLN: Target has been reached, it's up 5 days in a row as well and it's too near the $800 even number pivot resistance. Likely time for consolidation, patience pays well.