Thursday, May 21, 2009

AAPL continues to hold

Despite a big drop today in the US markets and a corresponding drop in AAPL, the uptrend held. After being near 123 late in the day AAPL rallied to finish over 124, right against the lower bullish trendline. Until a close below that line I would be bullish with a tight stop. Looks like a weak correction thus far, so we'll have to see what happens Friday, which might be a light trading day. If we pop and the trendline holds, target is still around 140. Here's the chart---



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